SWAMIH I (Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects) is a government-backed initiative managed by SBICAP Ventures. This program is specifically designed to provide last-mile financing to facilitate the completion of affordable and mid-income housing projects across India.
SWAMIH I offers crucial financial assistance to housing projects that are nearing completion yet are stalled due to funding shortages. The initiative aims to bridge the financial gap, ensuring that these projects are completed and delivered to the eager buyers.
The primary beneficiaries of SWAMIH I are developers involved in affordable and mid-income housing projects that face financial hurdles. Consequently, this also benefits homebuyers who are anxiously awaiting the completion of these projects.
By providing essential funding, SWAMIH I plays a significant role in reviving stalled housing projects. This not only helps deliver homes to buyers but also stimulates growth in the real estate sector, particularly in the affordable and mid-income segment.
SWAMIH I aligns seamlessly with the government's objective of promoting affordable housing. It plays a vital role in addressing the housing needs of a considerable section of the population, thereby contributing to the broader goals of housing and urban development.
Projects eligible for SWAMIH I funding are typically those that are significantly completed but have stalled due to financial deficits. The focus of this initiative is on projects that are fundamentally viable and can be successfully completed with an infusion of additional funds.
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