Finance Ministry nod to Rs 22.9K crore for stuck housing projects.
A government-sponsored alternate investment fund (AIF), set up to extend last-mile funding to complete stuck housing projects, has sanctioned as much as Rs 22,972 crore for 243 projects, the Finance Ministry said Friday. This will enable completion of 1,41,045 houses across the country.
The fund, set up under the Special Window for Affordable and Mid Income Housing (SWAMIH), has accorded final approval to investments of Rs 9,743 crore in 99 projects, while preliminary nod was granted to 144 projects involving investments of Rs 13,229 crore. The SWAMIH fund has already completed more than 1,500 housing units in the past six months, the ministry said on its Twitter handle.