+
Finance Minister Nirmala Sitharaman Hands Over Keys to 50,000 Homes
ECONOMY & POLICY

Finance Minister Nirmala Sitharaman Hands Over Keys to 50,000 Homes

At a post budget interaction event in Mumbai, Honourable Finance Minister Nirmala Sitharaman handed over keys to homebuyers from select projects in Mumbai Metropolitan Region (MMR), whose long-stressed residential projects have been completed under the “Special Window for Affordable and Mid-Income Housing (SWAMIH I) Investment Fund”. This milestone marks the completion of 50,000 homes, reaffirming SWAMIH's mission to provide relief to distressed homebuyers and revive stressed residential projects across the country.

Homebuyers from projects including Avant Hillways, Vision Heights and Shubham Trident received their keys at the event, symbolizing the transformational role of the SWAMIH Fund in restoring hope and stability to families impacted by stressed housing developments. Established in 2019 and managed by SBI Ventures Ltd., a State Bank of India Group company, the SWAMIH Fund is sponsored by the Ministry of Finance. As India’s largest social impact fund for the real estate sector, it addresses critical funding gaps for stressed and brownfield residential projects. With no precedent or comparable peer globally, the Fund is a pioneering initiative for impact-driven investing.

Prem Prabhakar, MD and CEO of SBI Ventures Ltd, said that “With the vision and support of the Government of India, this fund has paved the way for the completion of numerous housing projects, ensuring that thousands of families can finally call these homes their own”.

By targeting distressed housing projects, SWAMIH is also driving credit growth in the housing sector, boosting access to home loans, and contributing to a stronger, more inclusive economy. This milestone not only highlights the Fund’s success in fulfilling its mandate but also demonstrates its critical role in supporting India’s economic recovery and providing long-overdue relief to homebuyers.

At a post budget interaction event in Mumbai, Honourable Finance Minister Nirmala Sitharaman handed over keys to homebuyers from select projects in Mumbai Metropolitan Region (MMR), whose long-stressed residential projects have been completed under the “Special Window for Affordable and Mid-Income Housing (SWAMIH I) Investment Fund”. This milestone marks the completion of 50,000 homes, reaffirming SWAMIH's mission to provide relief to distressed homebuyers and revive stressed residential projects across the country.Homebuyers from projects including Avant Hillways, Vision Heights and Shubham Trident received their keys at the event, symbolizing the transformational role of the SWAMIH Fund in restoring hope and stability to families impacted by stressed housing developments. Established in 2019 and managed by SBI Ventures Ltd., a State Bank of India Group company, the SWAMIH Fund is sponsored by the Ministry of Finance. As India’s largest social impact fund for the real estate sector, it addresses critical funding gaps for stressed and brownfield residential projects. With no precedent or comparable peer globally, the Fund is a pioneering initiative for impact-driven investing.Prem Prabhakar, MD and CEO of SBI Ventures Ltd, said that “With the vision and support of the Government of India, this fund has paved the way for the completion of numerous housing projects, ensuring that thousands of families can finally call these homes their own”.By targeting distressed housing projects, SWAMIH is also driving credit growth in the housing sector, boosting access to home loans, and contributing to a stronger, more inclusive economy. This milestone not only highlights the Fund’s success in fulfilling its mandate but also demonstrates its critical role in supporting India’s economic recovery and providing long-overdue relief to homebuyers.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code