SWAMIH Completes Its First Residential Project

15 May 2021 Current Affairs:As the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund completes its first residential project, Union Minister for Finance and Corporate Affairs handed over possession to homebuyers.

Highlights:
♦ Rivali Park, a residential development in Mumbai’s suburbs, was the first housing project in India to receive SWAMIH Fund funding.
♦ In 2019, the SWAMIH Fund was launched.
♦ Rivali Park Wintergreens is the Fund’s first investment and also the first project to be completed.
♦ Despite COVID-19-related constraints, the SWAMIH Investment Fund is one of India’s largest private equity teams and has done commendable work.
♦ A total of 1,16,600 homes are expected to be completed by the Fund.
♦ By completing construction and delivering homes without relying on any other source of funding, this Fund is bridging the confidence gap between homebuyers and developers.
 

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