Full form of SWAMIH
- The full form of SWAMIH Fund is Special Window for Affordable and Mid-Income Housing Fund.
- It is government’s booster dose to complete stalled real estate project.
About SWAMIH Fund
SWAMIH Fund was announced on 6th November 2019 by the Finance Minister Smt. Nirmala Sitharaman. SBICAP Ventures was assigned the role of Investment Manager for this special window.
- Some of the real estate projects in the India are at risk due to drying of fund and liquidity problem.
- Real estate projects have been suffering due to some changes in the real estate sector like environmental issues, slow sales, unsold inventory. In such cases, people who are waiting for dream home, it’s like only dream for long tenure.
- The delay in the construction of project resulting mounting of rent and home loan interest payments.
- In order to avoid such circumstances, the Union Cabinet cleared a proposal to set up a ‘Special Window’ in the form of AIF to provide priority debt financing for completion of stalled housing projects.
- SWAMIH Fund has delivered 20,000+ homes as on December 2022 and aspires to deliver 20,000 homes every year for next three years.
Funding For SWAMIH
- A study by SBICAP ventures ltd in 2019 has estimated that 1500 projects with 4.58 lakh housing units were stalled and required funding of Rs. 55000 Cr to complete the stalled projects.
- The target corplus of the fund was Rs. 12,500 Cr.
SBICAP venture fund
SVL is currently the Investment Manager for
- Neev Fund
- Neev II (SME Fund) and
- SWAMIH Fund and Fund of Funds (SRI Fund & UKIDCF)
SWAMIH Fund Faqs
Who sponsored the SWAMIH investment fund?
- The sponsor of the fund is the secretary, department of economic affairs, ministry of finance, government of India.
Who benefits from the SWAMIH investment fund?
SWAMIN investment fund has mandate that
- To complete construction of stalled, RERA registered residential projects
- To complete construction of projects in the affordable housing or mid income category
- Last mile funding to complete construction
Which sector is SWAMIH investment fund related to?
- Real Estate
Who is fund manager of the SWAMIH fund?
- SBICAP venture fund
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