Govt sets up fund for stalled housing projects
Real Estate

Govt sets up fund for stalled housing projects

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

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 202124 February Click for event info4th Indian Cement Review Conference 202117-18 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

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?