In her budget speech, Finance Minister Nirmala Sitharaman unveiled a new SWAMIH Fund, allocating Rs 15,000 crore to complete one lakh housing units. The fund aims to offer relief to homebuyers facing delays in the possession of their properties. This initiative follows the Centre's announcement in November 2019 of the original SWAMIH fund to address stalled housing projects.
Building on the success of the first fund, Finance Minister Nirmala Sitharaman announced the launch of SWAMIH Fund 2 in her budget speech. She highlighted that 50,000 houses under SWAMIH Fund 1 have been completed, with keys handed over to homebuyers.
Completion of 40,000 Housing Units This YearFinance Minister Nirmala Sitharaman announced that 40,000 housing units will be completed this year, with an additional 40,000 units set for 2025. The initiative aims to assist middle-class families who are burdened with both home loan EMIs and rent payments.
SWAMIH Fund 2 will be established as a financial facility, supported by contributions from the government, banks, and private investors. With a total allocation of Rs 15,000 crore, the fund will expedite the completion of an additional one lakh housing units.