NEW DELHI: The Special Window for Affordable and Mid-Income Housing, a government-supported stress fund, has successfully completed over 61,000 homes in stalled projects as of December 15.
The fund is expected to deliver more than 100,000 homes, benefitting over 400,000 individuals, the Finance Ministry stated.
“Demonstrating effective deal execution and responsible capital use, the fund has fully committed its entire investable corpus ahead of the investment period ending on December 5, 2025.
“The fund’s portfolio includes over 145 projects across 30 cities, establishing SWAMIH (Special Window for Affordable and Mid-Income Housing) as the largest residential-focused stress resolution platform in the nation,” it noted.
Sharing further details, the ministry reported that around 61,000 homes have been completed across 110 projects, which includes more than 7,000 units designated for the Economically Weaker Sections (EWS) category as of December 15, 2025.
SWAMIH has adhered to stringent governance standards, robust asset management, and meticulous oversight, leading to 55 complete exits and 44 partial exits.
The SWAMIH Fund has mobilized Rs 37,400 crore in capital across 127 projects nationally, covering over 90 million square feet, of which 44% pertains to LIG and MIG housing. Additionally, it has created over 36,000 jobs, including 3,500 permanent positions.
Moreover, the fund has contributed an estimated Rs 6,900 crore in revenue to the Centre and states through GST, government dues, and stamp duties.
The revival of stalled projects has generated demand for over 2 million tonnes of cement and 550,000 metric tonnes of steel, it noted.
The fund has also returned nearly 50% of the capital to investors, illustrating its capacity to balance social impact with financial responsibility, having returned Rs 3,500 crore out of the Rs 7,000 crore drawn from the central government.
On February 1, 2025, Union Finance Minister Nirmala Sitharaman announced in the Budget 2025-26 the establishment of SWAMIH Fund-2, a blended finance facility supported by contributions from the government, banks, and private investors.
This new fund, amounting to Rs 15,000 crore, aims to expedite the completion of an additional 100,000 housing units.
A study by Propequity, commissioned by SBI Ventures Ltd in 2019, estimated that about 1,500 projects with 458,000 housing units were stalled/stressed and required a total funding of Rs 55,000 crore to finish the delayed projects.
The SWAMIH Investment Fund is managed by SBI Ventures Limited, a subsidiary of the State Bank of India, operating as a social impact investment platform that provides last-mile funding to distressed residential projects, including those facing legal challenges, NPAs, or struggling developer finances.
The fund has raised a cumulative corpus of Rs 15,531 crore, involving contributions from the central government, PSU Banks, and LIC, to extend priority debt financing to stressed, brownfield, and RERA-registered affordable and mid-income housing projects, alleviating the financial strain on middle-class families burdened with both EMIs and rent due to project delays.
