Govt sets up fund for stalled housing projects

22 Feb 2021 CW Staff

A $3.5 billion fund set up by the Indian government to complete stalled housing projects is set to deliver its first set of finished apartments in 2021, which comes as a relief for thousands of affected home buyers and bankrupted developers.

The special window for completion of construction of affordable and mid income housing projects (SWAMIH) fund was announced in November 2019. SWAMIH is a social impact fund to complete the construction of stalled housing projects.

Irfan A Kazi, Chief Investment Officer at SBICAP Ventures Ltd, the government appointed manager of the alternative investment fund, said the fund would hand over around 16 projects or more than 4,000 homes in the financial year starting April 1.

Make in Steel 2021

24 February

Click for event info

4th Indian Cement Review Conference 2021

17-18 March

Click for event info

India had an estimated $63 billion of such stalled projects as an economic slowdown and a credit crisis cascaded through the market.

Real estate developers were unable to service their loans, forcing banks to write off the debts and worsen what was already one of the world’s biggest bad loan piles.

The Centre had created the fund as a measure to unclog the financing pipes.

Image: The affordable and mid income housing projects market in India is valued at $63 billion.

Also read: Real estate sector seeks Rs 1.25 lakh cr stress fund

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..