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General Studies 3 >> Economy

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SWAMIH INVESTMENT FUND

"SWAMIH" INVESTMENT FUND

 
 
1.Background
The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I has raised Rs 15,530 crore so far to provide priority debt financing for the completion of stressed, brownfield and Real Estate Regulatory Authority (RERA)-registered residential projects that fall in the affordable, mid-income housing category. SWAMIH has so far provided final approval to about 130 projects with sanctions worth over Rs 12,000 crore
2.Key Takeaways
  • The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I is a social impact fund specifically formed for completing stressed and stalled residential projects
  • The Fund is sponsored by the Ministry of Finance, Government of India, and is managed by SBICAP Ventures Ltd., a State Bank Group company
  • Since the Fund considers first-time developers, established developers with troubled projects, developers with a poor track record of stalled projects, customer complaints and NPA accounts, and even projects where there are litigation issues, it is considered as the lender of last resort for distressed projects
  •  The Fund’s presence in a project often acts as a catalyst for better collections and sales primarily in projects that were delayed for years
  • According to the Finance Ministry, SWAMIH Fund has one of the largest domestic real estate private equity teams focused only on funding and monitoring the completion of stressed housing projects.
 
 
Source:indianexpress

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