SWAMIH fund sanctions Rs 10,300 cr for 101 stalled projects

The Special Window for Affordable and Mid Income Housing (SWAMIH) has sanctioned Rs 10,300 crore so far to complete 101 stalled housing projects.

In a tweet on Friday, the Finance Ministry said that out of the 101 projects, final approval has been given to 22 projects with an investment of Rs 3,472 crore.

“Special Window for Affordable & Mid Income Housing Fund (SWAMIH) is working at a fast pace to provide relief to homeowners. As on 20.08.2020, 22 projects with investment of Rs 3,472 Cr accorded final approval & will lead to completion of 20,380 home units,” it said.

The amount sanctioned as last mile funding for completion of 101 projects is likely to provide relief to 71,559 distressed home buyers.

Another tweet said that so far seven sites have activated construction plans with material and manpower.

The fund with a total corpus of Rs 25,000 crore was created last year to help the last mile funding of stalled housing projects, with the government infusing Rs 10,000 crore.