The Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund has approved ₹165 crore to Capital Infratech Homes to complete the project on time. The funding will benefit 900 homebuyers and will help the developer to deliver the 450 flats on a fast-track basis. The SWAMIH has given its consent about dues of the builder which need to be paid to the authority. The funding agency is meeting more developers to discuss how they can avail the fund to complete the stuck projects. According to ANAROCK Research, to mitigate this impediment, the government has initiated the Alternate Investment Fund (AIF) with a corpus of ₹25,000 crore in 2019. This move has been directed towards stressed residential real estate assets under construction which are yet to be completed, including those that are declared Non-Performing Assets and have been admitted for insolvency proceedings. The government's SWAMIH Fund has already sanctioned ₹12,079 crore for over 81,000 units across 123 projects in the country.
📅Published on:
15 March 2021
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