Union Finance Minister Nirmala Sitharaman recently announced a fresh Rs 150 billion SWAMIH Fund-2 to support the completion of one lakh housing units stalled across multiple cities, providing relief to distressed homebuyers.

The original Special Window for Affordable and Mid-Income Housing (SWAMIH) was launched in November 2019 to revive delayed affordable and mid-income housing projects. The first fund, with a corpus of Rs 155.30 billion, is being managed by SBICAP Ventures, a State Bank Group company.

Announcing the second fund in her Budget speech, the Finance Minister said SWAMIH Fund-2 builds on the success of the initial programme and reinforces the Government’s commitment to resolving stalled housing projects and restoring confidence among homebuyers.