SWAMIH Fund-2: Boosting Completion of Stalled Housing Projects

The Union Finance Minister Nirmala Sitharaman announced a Rs 15,000 crore SWAMIH Fund-2 to accelerate the completion of 1 lakh units in stalled housing projects. The initiative aims to provide relief to distressed homebuyers, enhancing liquidity and confidence in the real estate sector.

The Union Finance Ministry has unveiled a new Rs 15,000 crore SWAMIH Fund-2 to facilitate the completion of stalled housing projects, benefiting an estimated 100,000 homebuyers across various Indian cities. This move builds on the success of the initial SWAMIH Fund, which has helped complete 50,000 dwelling units.

Finance Minister Nirmala Sitharaman made the announcement, emphasizing the government's commitment to resolving the challenges faced by homebuyers with investments stuck in delayed real estate projects. The fund, a collaborative venture involving governmental, banking, and private investment contributions, targets affordable and mid-income housing categories.

Real estate industry leaders have welcomed this development, noting its potential to restore buyer confidence and improve the liquidity of the sector. The increased financial support aims to hasten the completion of projects, particularly in areas like the National Capital Region, where housing delays are prevalent.