Finance Ministry approves Rs 22,972 cr for residential projects

The Finance Ministry told the media that a government-sponsored alternate investment fund (AIF), installed to extend last-mile funding to achieve delayed residential projects, has approved as much as Rs 22,972 crore for 243 projects. It will allow the completion of 1,41,045 homes across the nation. The fund, installed under the Special Window for Affordable and Mid-Income Housing (SWAMIH), has granted a final nod to investments of Rs 9,743 crore in 99 projects, while a preliminary approval was accorded to 144 projects covering investments of Rs 13,229 crore. The SWAMIH fund has already achieved over 1,500 residential units in the last six months. Image Source Also read: SWAMIH fund allots Rs 200 cr for housing projects in three cities Also read: Govt hands over first residential project under SWAMIH Fund to buyers