The government said its SWAMIH Investment Fund has deployed its entire capital before the close of its investment period on December 5, 2025, building
a portfolio of over 145 housing projects across 30 cities.
By the end of 2025, around 61,000 homes had been delivered across 110 projects, including more than 7,000 units in the rehabilitation and Economically Weaker Sections (EWS) category, the government said in a release.
Launched in November 2019 after approval by the Union Cabinet, SWAMIH stands for Special Window for Affordable and Mid-Income Housing. The fund is managed by SBI Ventures Limited, a subsidiary of the State Bank of India.
Once fully completed, SWAMIH is expected to deliver more than one lakh homes, benefiting over four lakh people nationwide.
The fund has unlocked over ₹37,400 crore of capital across 127 projects, covering more than 90 million square feet of development area. Nearly 44% of this comprises Low Income Group (LIG) and Middle Income Group (MIG) housing.
SWAMIH’s operations have contributed an estimated ₹6,900 crore in revenues to the Centre and states through GST, stamp duties and other government dues. The government also claimed that construction activity under these projects generated demand for more than 20 lakh tonnes of cement and 5.5 lakh metric tonnes of steel.
On the financial front, SWAMIH has recorded 55 full exits and 44 partial exits so far, with nearly 50% of the drawn capital already returned to investors. Of the approximately ₹7,000 crore drawn from the Government of India, about ₹3,500 crore has been repaid—highlighting what officials describe as a balance between social impact and financial discipline.
The government has now announced plans to launch SWAMIH Fund-2 as a blended finance facility with contributions from the government, banks and private investors. The proposed ₹15,000 crore fund aims to enable faster completion of another one lakh housing units.
Structured as a social impact investment platform, the fund will provide last-mile financing to distressed, brownfield and RERA-registered residential projects affected by legal disputes, non-performing assets or weak developer balance sheets.
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