SWAMIH Fund for stalled housing projects to benefit 1 16 lakh home buyers says FM Nirmala Sitharaman varpat

.  Under Swamih scheme, 72 projects have received funding of Rs 6,995 crore.

. Under Swamih scheme, 72 projects have received funding of Rs 6,995 crore.

The work of flats stuck for years is being done at a rapid pace. With the help of special funds released by the government, many people have found their homes so far. Finance Minister Nirmala Sitharaman said that 1.16 lakh home loan borrowers will benefit from the special window for Affordable and Mid Income Housing (SWAMIH) fund.

New Delhi. The work of flats stuck for years is being done at a rapid pace. With the help of special funds released by the government, many people have found their homes so far. On Thursday evening, Finance Minister Nirmala Sitharaman said that 1.16 lakh home loan borrowers will benefit from a special window for Affordable and Mid Income Housing (SWAMIH) fund. Explain that the Ministry had launched the Special Window for Affordable and Mid Income Housing (SWAMIH) scheme in the year 2019 to complete the stuck residential projects. Finance Minister Nirmala Sitharaman on Thursday handed over the keys to 640 buyers who booked a flat in the first residential project to be ready at Mumbai’s Riwali Park under this scheme. The project was stuck due to lack of funds A provision of Rs 25,000 crore has been made for the completion of 1,500 stalled residential projects under Swamyah Fund. The fund is managed by SBI Cap Ventures Limited and the scheme is being run under the supervision of the Department of Economic Affairs, Ministry of Finance. Let us know that these projects were already two-thirds ready, but were stuck in the last phase due to lack of funds. Under Swamih scheme, 72 projects have received funding of Rs 6,995 crore. There are 44,115 flats in these 72 projects. Also read- Gold Price Today: Gold became cheaper on Akshaya Tritiya today! Constant fall in prices, check latest rates quicklyObjective of the scheme to provide home to all The Finance Minister said that the house for which people have waited for years, they are very happy to find the key in a difficult time like lockdown. The Finance Minister said that the Government of India has taken a step towards providing funds to affordable and medium-income housing projects facing various problems, which is a relief to the home buyers who invested their hard earned money in these projects. Nirmala Sitharaman said that the government believes that once the construction of these houses is completed, huge amount of trapped capital will come out in these projects.




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