Private Equity

PE-RE Fund Investments

SWAMIH Fund invests Rs 94-Cr in Panvelkar Estate-Oxford near Mumbai

Economic Times  

The government-backed SWAMIH I fund has invested INR 94 crore in Panvelkar Estate-Oxford, a affordable housing gated-community project spread over 11 acres in Badlapur locality in Thane (near Mumbai). The project with nearly 0.5 million-sq-ft saleable area is being developed by Panvelkar Infrastructures. This is one of the large investments being made by the fund and nearly 1,000 homebuyers are expected to benefit from this financing support. The project was started in 2018 and the developer has completed around 40% construction work so far. While the earlier delivery was scheduled in December 2022, the SWAMIH funding is expected to now help expedite the work and complete the project by March 2024. The project comprises a total four towers, however, the financing is made available to first three towers with ground plus 16 storey structures as the fourth tower is yet to be launched. The project has affordable housing units with configurations of one-room kitchen, 1 and 2-bedroom apartments priced between Rs 15 lakh to Rs 35 lakh.