Finance Minister Nirmala Sitharaman Hands Keys Buyers as SWAMIH Fund Completes 50,000 Homes

(From Left) SBI Chairman C.S. Setty, Secretary, Department of Economic Affairs, Ajay Seth, Union Finance Minister Nirmala Sitharaman, Minister of State for Finance Pankaj Chaudhary, Homebuyer Mubarak Ali Temrikar, MD & CEO, SBI Ventures Limited, Prem Prabhakar.

Mumbai, February 17, 2025: Union Finance Minister Nirmala Sitharaman on Monday handed over keys to homebuyers from select projects in Mumbai Metropolitan Region (MMR), whose long-stressed residential projects have been completed under the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund. This milestone marks the completion of 50,000 homes, reaffirming SWAMIH’s mission to provide relief to distressed homebuyers and revive stressed residential projects across the country.

Homebuyers from projects including Avant Hillways, Vision Heights and Shubham Trident received their keys at the event, symbolizing the transformational role of the SWAMIH Fund in restoring hope and stability to families impacted by stressed housing developments.

Established in 2019 and managed by SBI Ventures Ltd., a State Bank of India Group company, the SWAMIH Fund is sponsored by the Ministry of Finance. As India’s largest social impact fund for the real estate sector, it addresses critical funding gaps for stressed and brownfield residential projects.

MD and CEO of SBI Ventures Ltd Prem Prabhakar said: “With the vision and support of the Government of India, this fund has paved the way for the completion of numerous housing projects, ensuring that thousands of families can finally call these homes their own”.

By targeting distressed housing projects, SWAMIH is also driving credit growth in the housing sector, boosting access to home loans, and contributing to a stronger, more inclusive economy.