Tag: SBICAP Ventures

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Ramky Estates Revives Skylark Projects in Bengaluru with ₹600 Cr Funding

Sure! Here’s a rewritten version of the content: NEW DELHI: Ramky Estates & Farms has acquired stalled residential projects totaling approximately 4.3 million sq ft in Bengaluru from Skylark Builders. The developments, situated in prominent areas such as Electronic City and Whitefield, are projected to generate around ₹2,000 crore in revenue, with an estimated remaining completion cost of ₹1,500 crore. To facilitate the execution of these projects, the developer has secured ₹600 crore in funding from the government-supported Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund. The projects have been rebranded as ‘Ramky Lumina’ in Electronic City and ‘Ramky…

IndustryLatest Stories

RBI Exempts SWAMIH Fund from AIF Rules

BENGALURU: The Reserve Bank of India has announced a waiver of its stringent regulations concerning alternate investment funds (AIF) for a government-supported real estate rescue fund, as disclosed in a notification on Friday. The fund, named the Special Window for Affordable and Mid-Income Housing (SWAMIH), was established in 2019 to assist struggling real estate projects with debt financing for halted housing initiatives. SWAMIH is managed by SBICAP Ventures, a subsidiary of the government-owned State Bank of India, which is also a significant investor in the fund. Last year, the RBI mandated that banks and non-banking finance companies increase their provisions…