After the approval of the Union Cabinet chaired by Prime Minister Shri Narendra Modi, the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund was launched in November 2019 as a Government-backed initiative to provide last-mile financing to stalled housing projects, with financial support from the Department of Economic Affairs (DEA), Ministry of Finance.

Reflecting strong deal execution and disciplined capital deployment, the Fund has fully committed its entire investible corpus prior to the end of its investment period on 5^th December 2025. The Fund’s portfolio comprises more than 145 projects across 30 cities, making SWAMIH the largest residential-focused stress resolution platform in the country.

The Fund is expected to deliver over 1 lakh homes, providing relief to over 4 lakh people.

Progress and Achievements:

• As on 15^th December 2025, approximately 61,000 homes have been delivered across 110 projects. This includes over 7,000 units under rehabilitation/Economically Weaker Sections (EWS) category.
• SWAMIH has been managed with strong governance standards, active asset management, and rigorous oversight, resulting in 55 full exits and 44 partial exits.
• SWAMIH Fund has unlocked ₹37,400 crore+ of capital across 127 projects nationwide, with over 90 million square feet of area under development, of which 44% comprises LIG and MIG housing.
• It has also generated over 36,000 skilled and unskilled jobs, including 3,500 permanent jobs.
• In addition, the Fund has contributed an estimated ₹6,900 crore+ in revenues to the Centre and States through GST, government dues, and stamp duties.
• The revival of stalled projects has generated demand for over 20 lakh tonnes of cement and 5.5 lakh metric tonnes of steel.
• The projects have added more than 1.06 lakh trees as green cover.
• The Fund has also returned nearly 50 per cent of the drawn capital to investors, underscoring its ability to balance social impact with financial prudence.
• The Fund has already returned an amount of ~ ₹3,500 crore out of drawn capital of ~ ₹7,000 crore from Govt. of India.

The SWAMIH Investment Fund stands as an example of the Union Government’s commitment to protecting homebuyers’ interests, reviving the housing sector, generating employment, and strengthening the overall economy.

SWAMIH Fund-2:

On 1st February 2025, the Union Finance Minister announced in Budget 2025-26 that SWAMIH Fund-2 will be established, as a blended finance facility with contribution from the government, banks and private investors. This fund of ₹15,000 crore will aim for expeditious completion of another 1 lakh units.

ABOUT SWAMIH FUND

The SWAMIH Investment Fund is managed by SBI Ventures Limited, subsidiary of State Bank of India and operates as a social impact investment platform, providing last mile funding to distressed residential projects, including those affected by legal challenges, NPAs, or weak developer balance sheets.

The Fund has raised an aggregate corpus of ₹15,531 crore, with participation from the Government of India, PSU Banks and LIC, to provide priority debt financing to stressed, brownfield and RERA-registered affordable and mid-income housing projects, thereby easing the financial burden on middle-class families who were paying both EMIs and rent due to project delays.

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NB/KMN