Private Equity

PE-RE Fund Investments

SWAMIH fund invests in ”JOP Palms” gated-community project in Rohtak

Economic Times  

The government-backed last-mile financing platform Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I) has made an investment in a large gated-community project in Rohtak, Haryana. With the new funds infusion, the project's proposed first phase with 225 apartments will be delivered in the next one year. The project, JOP Palms, spread over nearly 7 acres in Sector 28 in Rohtak, was started by realty developer JOP International in 2014. The project's licence and approvals had expired following the developer's inability to make payment of external development charges (EDC) and infrastructure development charges (IDC) to the state authorities. The project has 22 towers with 2-, 3- and 4-bedroom apartments. One tower is for the economically weaker section (EWS).