SWAMIH initiative: Modi govt approves Rs 8,700 crore for completion of 60,000 homes across India

Finance Minister Nirmala Sitharaman on Thursday said the real estate sector is at the cusp of a turnaround following the SWAMIH initiative, under which Rs 8,767 crore has been approved for 81 projects, enabling completion of almost 60,000 homes across India. While reviewing the performance of the Special Window for Affordable and Mid Income Housing (SWAMIH), the minister underlined the need for speedy efforts to complete construction of projects for which last mile funding has been sanctioned, an official release said.

Besides senior officials of the Finance Ministry, the review meeting was attended by the officials of the State Bank of IndiaSBI Capital Markets Limited and SBICAPS Ventures Limited (SVL).”this special window was an unprecedented initiative that has provided extraordinary support to the real estate sector and poised it at the cusp of a turnaround despite such turbulent economic times,” the minister said.

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