Revitalizing India's Real Estate Sector: The Impact of SWAMIH Fund

SWAMIH Fund Helps in Completion of 28,000 Homes Since 2019 - Illustration depicting the impact of SWAMIH Fund on India's real estate sector, showcasing completed homes and construction activity.
Revitalizing India's Real Estate Sector: The Impact of SWAMIH Fund

The Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund, initiated by the central government and managed by SBICap Ventures Ltd, has emerged as a pivotal force in India's real estate landscape since its inception in 2019. This fund has been instrumental in addressing the challenges faced by the sector, particularly in terms of liquidity crunch, project delays, and stalled projects.

Key Achievements:

Since its establishment, the SWAMIH Fund has facilitated the completion of more than 28,000 homes across various projects, according to the National Real Estate Development Council (NAREDCO). By providing last-mile funding to developers, it has ensured timely delivery of homes to buyers, thereby revitalizing the sector.

Future Projections:

With a commitment to further bolster the sector, the SWAMIH Fund is projected to enable the delivery of an additional 60,000 homes over the next three years. This projection underscores its continued support towards ensuring homebuyers receive possession of their properties without undue delays.

Stimulating Ancillary Industries:

In addition to its impact on home completions, the SWAMIH Fund has catalyzed growth in ancillary industries within the real estate and infrastructure sector. It has injected liquidity of over ₹35,000 crore, benefiting industries such as construction materials, cement, steel, and related sectors. This infusion has sustained operations, preserved employment, and contributed to overall economic growth.

Addressing Housing Inventory Overhang:

A joint report by Anarock and NAREDCO reveals a significant reduction in housing inventory overhang, dropping from 41 months in 2017 to 15 months by the end of 2023. This decline can be attributed to factors including the support of the SWAMIH Fund in completing stalled projects and increased housing demand post-pandemic.

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