Finance Ministry okays Rs 10,300 crore for housing projects under SWAMIH scheme

Finance Ministry

The finance ministry has said that 101 stressed housing projects have received Rs 10,300 crore fund for completing their projects under Special Window for Affordable and Mid Income Housing (SWAMIH) scheme.

Finance Ministry

This will help in completion of 71,559 dwelling units around several parts of the country.

“Overall, 101 projects have been now sanctioned, including final approval to 22 projects, with an investment of Rs 10,300 crore (as on August 20) that would target to provide relief to 71,559 homeowners. So far 7 sites have activated construction plans with material and manpower,” tweeted the finance ministry.

Last month, Union Finance Minister Nirmala Sitharaman organised a review meeting to analyse the progress of SWAMIH scheme.

While reviewing the performance of SWAMIH, the Union minister had highlighted the need for fast efforts for completing construction of projects for which last mile funds has been sanctioned.

In 2019, the Union Cabinet last year cleared setting up an alternative investment fund (AIF) worth Rs 25,000 crore for offering relief to developers with unfinished projects for ensuring delivery of homes to buyers.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Elets FSI Virtual Conclave and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.