Finance Minister Nirmala Sitharaman on Monday handed over keys to homebuyers from select projects in Mumbai Metropolitan Region (MMR).
They were those whose long-stressed residential projects have been completed under the “Special Window for Affordable and Mid-Income Housing (SWAMIH I) Investment Fund.”
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The Finance Minister was at a post-budget interaction event in Mumbai.
Homebuyers from projects including Avant Hillways, Vision Heights and Shubham Trident received their keys at the event, symbolizing the transformational role of the SWAMIH Fund in restoring hope and stability to families impacted by stressed housing developments.
This milestone marks the completion of 50,000 homes, reaffirming SWAMIH’s mission to provide relief to distressed homebuyers and revive stressed residential projects across the country.
As India’s largest social impact fund for the real estate sector, SWAMIH Fund addresses critical funding gaps for stressed and brownfield residential projects.
Prem Prabhakar, MD and CEO of SBI Ventures Ltd, said, “With the vision and support of the Government of India, this fund has paved the way for the completion of numerous housing projects, ensuring that thousands of families can finally call these homes their own”.
At the Union Budget 2025, Nirmala SItharaman highlighted that under the SWAMIH scheme, fifty thousand dwelling units in stressed housing projects have been completed, and keys handed over to home-buyers
Finance Minister had announced the second tranche of the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund of Rs 15,000 crore to help in the completion of one lakh dwelling units.
Established in 2019 and managed by SBI Ventures Ltd, a State Bank of India Group company, the SWAMIH Fund is sponsored by the Ministry of Finance. With no precedent or comparable peer globally, the Fund is a pioneering initiative for impact-driven investing.
By targeting distressed housing projects, SWAMIH is also driving credit growth in the housing sector, boosting access to home loans, and contributing to a stronger, more inclusive economy.
