Budget 2026-27 announced a fresh Rs 15,000 crore ‘SWAMIH Fund’ for the completion of 1 lakh units in stalled housing projects across various cities.
Also Read: Key highlights of PM Modi’s speech in Lok Sabha: ‘West Asia crisis poses new challenges for India’
As on January 31, 2026, Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund has committed investment in 148 projects, she said in a reply in the Lok Sabha.
The fund has had a measurable impact on reviving buyer confidence and reducing stress in the housing sector by delivering 63,200 homes with a total 1,01,443 homes in the portfolio across India, she said.
Beyond enabling completion of homes, she said, SWAMIH has generated significant economic benefits.
In November 2019, the Indian government unveiled a stress fund SWAMIH, designed to revive languishing housing projects nationwide. This initiative took the form of a ‘Special Window’, specifically an Alternative Investment Fund (AIF), which was established to offer prioritized debt financing. The State Bank of India Ventures was designated as the Investment Manager for this particular window.
Under the SWAMIH Fund-1, a total of Rs 15,530 crore has been secured to date. The fund’s primary goal is to offer priority debt financing. This funding is intended for the completion of residential projects that are stressed, brownfield, and registered with the Real Estate Regulatory Authority (RERA). These projects must also fall into the affordable and mid-income housing segments.
Given its willingness to work with first-time developers, those with existing projects facing difficulties, and even those with a history of stalled endeavors, the fund effectively serves as a last resort for projects in distress. This includes developers with customer complaints, non-performing asset accounts, and projects entangled in legal disputes.
With inputs from PTI