The government-backed Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund has announced complete exit from its investment made in CCI Rivali Park Wintergreen project in Mumbai.
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The fund was set up last year to provide last mile funding to stuck affordable housing projects.
According to the Finance Ministry, SWAMIH has given final approval to 95 projects sanctioning more than Rs 9,500 crores which will complete over 57,700 homes.
It has already completed over 1,500 homes in seven projects and is on track to complete at least 10,000 homes every year.
Located in Borivali, Mumbai, the Rivali Park residential project was the first to receive funding under the SWAMIH Fund, which was announced in November 2019 with an estimated fund size of Rs 25,000 crore. The Fund was announced under a government scheme to support stuck projects.
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