Govt infuses ₹8,767-cr in affordable housing sector
The Finance Ministry has approved a sum worth ₹8,767 crore for 81 projects, enabling the completion of almost 60,000 homes across the country under the Special Window for Affordable and Mid-Income Housing (SWAMIH). There is a need for speedy efforts to complete the construction of projects for which the last-mile funding has been sanctioned. This special window is an unprecedented initiative that has provided support to the real estate sector and poised it at the cusp of a turnaround despite such turbulent economic times. The SWAMIH Investment Fund I has progressed from a policy announcement to an operational initiative on the ground as the investment will enable the completion of the targeted housing units under the scheme. These projects are spread across a mix of markets including large cities such as National Capital Region (NCR), Mumbai Metropolitan Region (MMR), Bengaluru, Chennai, Pune, and also tier 2 locations, including Karnal, Panipat, Lucknow, Surat, Dehradun, Kota, Nagpur, Jaipur, Nashik, Vizag and Chandigarh. Amongst these projects, investments in 18 projects have been given final clearance and disbursement is at various stages across seven residential projects.
