SWAMIH Fund Completes Full Capital Commitment

The Special Window for Affordable and Mid-Income Housing, or SWAMIH, has emerged as a major government-backed stress resolution platform for stalled residential projects in India. Launched in November 2019 with support from the Department of Economic Affairs, it was designed to provide last-mile financing and help complete unfinished housing units, especially in affordable and mid-income segments. The fund has now fully committed its entire investible corpus before the end of its investment period, reflecting strong deployment and project execution.

What SWAMIH Does

SWAMIH was created to address the crisis of stalled housing projects that left homebuyers waiting for years. It provides financing to projects that are near completion but face liquidity stress. The aim is to revive construction, protect homebuyers, and restore confidence in the real estate sector.

Scale of the Fund’s Impact

• The portfolio covers more than 145 projects across 30 cities.
• It is the largest residential-focused stress resolution platform in the country.
• The fund is expected to deliver over 1 lakh homes.
• More than 4 lakh people are expected to benefit.
• About 61,000 homes have already been delivered across 110 projects.

Economic and Social Outcomes

• SWAMIH has unlocked over ₹37,400 crore of capital across 127 projects.
• It has supported more than 90 million square feet of construction.
• About 44% of the area under development is in LIG and MIG housing.
• The projects have generated over 36,000 jobs, including 3,500 permanent jobs.
• The revival work has also created demand for cement, steel and other construction inputs.

SWAMIH Fund-2 and Future Outlook

In Budget 2025-26, the government announced SWAMIH Fund-2 as a blended finance facility with support from the government, banks and private investors. The proposed corpus of ₹15,000 crore is intended to complete another 1 lakh housing units. The new fund reflects continued policy focus on housing completion, homebuyer protection and real estate sector stability.