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PE-RE Fund Investments

Govt's SWAMIH fund to invest Rs.200-Cr in stuck housing projects in Mumbai, Thane, Jaipur

Economic Times  

The government-backed last mile fund under the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I) scheme has approved investments worth around INR 200 crore in three stressed housing projects in Mumbai, Thane and Jaipur. The last-mile financing in these three projects will help in the construction and delivery of homes to over 1,700 troubled homebuyers. Of this, the project being built by Raghvendra Constructions in Mumbai's Goregaon suburb has nearly 200 apartments, including 70 tenants. The project in Thane by Arvij Builders has 100 apartments including tenants and new homebuyers. The Jaipur affordable housing project, Surya Residency, has so far sold about 800 apartments out of total inventory. Sambhav Consultancy was the exclusive advisor for the Jaipur project transaction.