Q: What is SWAMIH I?
A: SWAMIH I (Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects) is a government-backed initiative managed by SBICAP Ventures. It’s designed to provide last-mile financing to support the completion of affordable and mid-income housing projects in India.
Q: How does SWAMIH I function?
A: SWAMIH I offers financial assistance to housing projects that are near completion but are stalled due to funding shortages. This initiative aims to bridge the financial gap, ensuring these projects are completed and delivered to the buyers.
Q: Who benefits from SWAMIH I?
A: The primary beneficiaries are developers of affordable and mid-income housing projects facing financial challenges, and consequently, the homebuyers who are awaiting the completion of these projects.
Q: What impact does SWAMIH I have on the real estate sector?
A: By providing critical funding, SWAMIH I helps in reviving stalled housing projects. This not only aids in delivering homes to buyers but also stimulates the real estate sector, especially in the affordable and mid-income segment.
Q: How does SWAMIH I support the government’s goals?
A: SWAMIH I aligns with the government’s objective of promoting affordable housing. It plays a crucial role in fulfilling the housing needs of a significant population segment, thereby contributing to the government’s broader housing and urban development goals.
Q: What criteria must projects meet to be eligible for SWAMIH I funding?
A: Projects eligible for SWAMIH I funding are typically those that are significantly completed but have stalled due to financial deficits. The focus is on projects that are fundamentally viable and can be completed with the infusion of additional funds.