Categories: Schemes

Govt of India Invest Rs 5000 Crore in the SWAMIH Fund to Complete Housing Projects

The government has put in an additional Rs 5,000 crore into the SWAMIH Invest Fund-I to help the stressed realty investment platform achieve its final close at Rs 15,530 crore. The fund set up under the Special Window for Affordable and Mid-Income Housing is India’s largest social impact fund, which said the government recently infused Rs 5,000 crore.

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Objective Of This Fund:

It intends to provide priority debt financing for the completion of stressed, brownfield and residential projects registered with regulatory bodies that fall in the affordable, mid-income housing category.

About The Investor:

The country’s largest lender SBI is one of the anchor investors of the Ministry of Finance-sponsored fund along with Life Insurance Corporation of India (LIC), Other investors include HDFC Ltd and major nationalised banks. The Investment Manager of the Fund is SBICAP Ventures Ltd which is owned by State Bank of India.

How Much Has Been Done:

The fund has given final approvals to 127 projects which will in turn complete over 79,000 homes, it said, adding that 286 projects across over 30 cities, which entail construction of over 1 lakh homes are being evaluated at present.

The final close comes three years after the fund had marked its first close on receiving Rs 10,037.5 crore in commitments, including Rs 5,000 crore from the government, in December 2019.

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Piyush Shukla

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