The government-backed SWAMIH Fund has completed more than 61,000 homes in stalled affordable and mid-income housing projects as of December 15, according to the Ministry of Finance. The fund is expected to deliver over 100,000 homes in total, providing relief to more than 400,000 people.

In a statement, the ministry said the fund has fully committed its entire investible corpus ahead of the end of its investment period on December 5, 2025, reflecting strong deal execution and disciplined capital deployment. The SWAMIH portfolio spans more than 145 projects across 30 cities, making it the country’s largest residential-focused stress resolution platform.

As of December 15, around 61,000 homes have been delivered across 110 projects, including more than 7,000 units under the rehabilitation and Economically Weaker Sections category. The fund has recorded 55 full exits and 44 partial exits, supported by active asset management, rigorous oversight and strong governance standards.

Overall, SWAMIH has unlocked about Rs 374 billion of capital across 127 projects nationwide, with over 90 million sq ft of area under development. Of this, around 44 per cent comprises low-income and mid-income group housing. The revival of stalled projects has also generated over 36,000 jobs, including about 3,500 permanent positions.

The fund has contributed an estimated Rs 69 billion in revenues to the Centre and states through GST, government dues and stamp duties. It has also spurred demand for more than 2 million tonnes of cement and about 0.55 million tonnes of steel.

SWAMIH has returned nearly 50 per cent of the drawn capital to investors, highlighting its ability to balance social impact with financial prudence. Of the Rs 70 billion drawn from the central government, around Rs 35 billion has already been returned.

In the Union Budget 2025–26, Finance Minister Nirmala Sitharaman announced the launch of SWAMIH Fund-2, a blended finance facility with contributions from the government, banks and private investors. The proposed fund, with a corpus of Rs 150 billion, aims to fast-track the completion of another 100,000 housing units.

A 2019 study by Propequity, commissioned by SBI Ventures Limited, estimated that around 1,500 projects involving about 458,000 housing units were stalled or stressed, requiring aggregate funding of roughly Rs 550 billion.

The SWAMIH Investment Fund is managed by SBI Ventures Limited, a subsidiary of State Bank of India, and operates as a social impact investment platform providing last-mile funding to distressed residential projects. The fund has raised an aggregate corpus of about Rs 155.31 billion, with participation from the central government, PSU banks and Life Insurance Corporation of India, easing the financial burden on middle-class homebuyers affected by prolonged project delays.