SWAMIH Fund to invest Rs.340-Cr in Vatika Group's Gurugram project: report

The Special Window for Affordable & Mid-Income Housing (SWAMIH) fund is to invest about INR 340 crore for the completion of a stalled real estate project by the Vatika Group in Gurugram.The project, spanning 14 acres, has a saleable area of 1.4 million square feet. Initiated nearly a decade ago, it comprises approximately 640 apartments, with 150 units sold prior to SWAMIH's involvement. While the structure for the majority of Phase-1 was already in place, construction has now also commenced for Phase-2. Phase 1 of the project should begin offering possession by October 2024, and the developer expects to complete the project by January 2026.