81 Stressed Housing Projects Approved under SWAMIH
Eight months after the cabinet approved a ₹25,000 crore special window (SWAMIH) to provide funding to housing projects that are stuck in a review meeting yesterday the senior management team of the State Bank of India, SBI Capital Markets Limited and SBICAPS Ventures Limited (SVL), informed that the fund has approved 81 projects with an investment of ₹8767 crore.
The approval, under the SWAMIH Investment Fund I, will enable the completion of nearly 60,000 homes across India. These projects are spread across both large cities such as National Capital Region (NCR), Mumbai Metropolitan Region (MMR), Bengaluru, Chennai, Pune as well as Tier 2 locations including Karnal, Panipat, Lucknow, Surat, Dehradun, Kota, Nagpur, Jaipur, Nashik, Vizag, Chandigarh among others.
Among these projects, investments in 18 projects have been given final clearance and disbursement is at various stages across 7 residential projects.
Applications from 353 stressed projects are under examination for provision of assistance. Additionally, the Fund is actively evaluating options to provide relief to nearly 15,000 homebuyers in some long-stalled projects, which are pending before the Supreme Court for resolution.