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.
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.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
