SWAMIH fund okays Rs 2.07 bn for stalled Noida project

29 Nov 2022 CW Team

The Special Window for Affordable & Mid-Income Housing (SWAMIH) fund has approved about Rs 2.07 billion for completing a stalled real estate project in Greater Noida.

The last-mile funding, the first instalment of which released recently, will lead to time-bound delivery of houses to 1,000 home buyers at Sikka Kimaya Greens.

“The project registered in the name of Eco Green Buildtech was started by the Sikka Group, but is stuck midway. The builder had dues of Rs 740 million, of which it has paid Rs 410 million from the first instalment,” said a Greater Noida authority official. The SWAMIH fund has approved funding for over 30 projects in the National Capital Region, and this is the third project in Greater Noida to receive funding.

“This was a difficult project to fund and the road ahead is also difficult. We will need support of homebuyers and authority to complete the project,” said Irfan A Kazi, chief investment officer at SWAMIH Investment Fund.

The project was launched in 2014 and was supposed to be delivered by 2020.

“We were managing the construction, but Covid impacted the project. With the fund, we will start delivering units three months from now and will complete the project within 18 months,” said Harvinder Singh, managing director of the Sikka Group.

SWAMIH; Sikka Group; Greater Noida; Irfan A Kazi; Harvinder Singh

Maharashtra Tightens Housing Society Redevelopment Rules

Mumbai Property Registrations Hit 14-Year High in September

Real Estate

06 Oct 2026

Mumbai Property Registrations Hit 14-Year High in September

HDFC Capital, Shalimar Corp Form Rs. 7.5 bn UP Realty Platform

Real Estate

06 Oct 2026

HDFC Capital, Shalimar Corp Form Rs. 7.5 bn UP Realty Platform

Gold Stories

Real Estate

01 Oct 2026

MHADA: Upgrading Mumbai via Goregaon

Real Estate

01 Oct 2026

Beyond Energy-Efficiency

Real Estate

01 Oct 2026

The Energy-Smart Buildings

Products

06 Oct 2026

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Infrastructure Urban

06 Oct 2026

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Infrastructure Energy

06 Oct 2026

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..