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
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code