Govt hands over first residential project under SWAMIH Fund to buyers

14 May 2021 CW Team

On Thursday, Minister of Finance Nirmala Sitharaman handed over possession of the Rivali Park project, located in suburban Mumbai, to buyers of the first residential project under the government's special window for affordable and mid-income housing (SWAMIH) fund.

The Rivali Park project was the first housing project in India to have received funding under the SWAMIH Fund.

While addressing a virtual event, Sitharaman said that the project will provide a momentum to the allied industries such as cement and steel and added that it would improve portfolios of banks and non-banking financial companies (NBFCs).

The SWAMIH Fund so far has given its final nod to 72 projects that will complete 44,100 homes, while 132 projects have received preliminary approval, which will complete an additional 72,500 homes. The target is to complete an aggregate of 116,600 homes.

As we have reported earlier, the Indian government had set up a Rs 25,550 crore fund, SWAMIH was set to deliver its first set of finished apartments in 2021, which comes as a relief for thousands of affected home buyers and bankrupt developers.

SWAMIH fund was announced in November 2019. It is a social impact fund to complete the construction of stalled housing projects in India.

Image Source

Also read: Govt sets up fund for stalled housing projects

Also read: Alternate Investment Fund for stalled housing projects

Real Estate

08 Oct 2025

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie. Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision. Hussain S..

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..