NEW DELHI: The SWAMIH Investment Fund II was announced as part of the recent Union Budget and is set to be officially launched. Its aim is to provide assistance to distressed homebuyers with stalled investments, as Finance Minister Nirmala Sitharaman informed Parliament on Monday.
The 2026-27 budget introduced a new Rs 15,000 crore ‘SWAMIH Fund’ designated for completing 1 lakh units in delayed housing projects across various cities.
As of January 31, 2026, the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund has committed investments in 148 projects, according to her response in the Lok Sabha.
This fund has significantly boosted buyer confidence and alleviated stress in the housing sector, successfully delivering 63,200 homes, with a total of 1,01,443 homes in the national portfolio.
In addition to facilitating home completion, SWAMIH has also generated substantial economic benefits.
Introduced by the Indian government in November 2019, the SWAMIH initiative aims to revitalize stagnant housing projects nationwide through a ‘Special Window,’ structured as an Alternative Investment Fund (AIF) that prioritizes debt financing. State Bank of India Ventures has been appointed as the Investment Manager for this scheme.
To date, the SWAMIH Fund-1 has secured Rs 15,530 crore. The fund primarily focuses on offering priority debt financing for the completion of stressed residential projects that are brownfield and registered with the Real Estate Regulatory Authority (RERA), targeting affordable and mid-income housing segments.
By being open to working with first-time developers and those experiencing challenges with existing projects or past stalled endeavors, the fund acts as a last resort for distressed projects, including those plagued by customer complaints, non-performing asset accounts, and legal disputes.
