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

18 Feb 2025 CW Team

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.

Infrastructure Urban

13 Oct 2025

Blue Dart Unveils 10-Minute Digital Account Opening

Blue Dart Express has introduced its new Digital Account Opening (DAO) platform, enabling businesses across India to open shipping accounts and begin operations within just 10 minutes. The platform features a five-step digital onboarding process, allowing companies to register, complete KYC verification, sign agreements, and recharge prepaid cards quickly and securely. Through the DAO Journey, users can create a profile, select a suitable plan, complete Aadhaar-enabled digital signing, and immediately start shipping with a Digital Prepaid Card. All account activities are tracked in real time..

Jharkhand Forms Teams to Modernise Urban Infrastructure

The Jharkhand Urban Development Department has constituted multiple expert teams to plan, assess, and modernise urban infrastructure across the state’s cities and towns, an official said on Thursday. The initiative aligns with Chief Minister Hemant Soren’s vision to position Jharkhand among India’s leading states in the field of advanced and sustainable urban development. The teams have been tasked with identifying existing infrastructure gaps and proposing new projects to promote stable and long-term growth. According to Sunil Kumar, Principal Secretary of the Urban Development and Ho..

Kerala CM Seeks Rs 22 Billion NDRF Aid, AIIMS Nod from PM

Kerala Chief Minister Pinarayi Vijayan met Prime Minister Narendra Modi in New Delhi on Friday, seeking urgent financial and policy support for the state. The Chief Minister requested the release of the Rs 22.21 billion National Disaster Response Fund (NDRF) grant for Wayanad landslide reconstruction and pressed for immediate approval to establish an AIIMS at Kinaloor, Kozhikode. “Called on the Hon’ble Prime Minister Narendra Modi Ji and requested the urgent release of the full Rs 22.21 billion NDRF grant for Wayanad landslide reconstruction. Also urged immediate approval for establishing..