The Special Window for Affordable and Mid-Income Housing, a government-backed stress fund, has successfully completed over 61,000 homes in stalled projects till December 15.
The fund is expected to deliver over 1 lakh homes, providing relief to over 4 lakh people, the finance ministry said in a statement.
"Reflecting strong deal execution and disciplined capital deployment, the fund has fully committed its entire investible corpus prior to the end of its investment period on December 5, 2025.
"The fund’s portfolio comprises more than 145 projects across 30 cities, making SWAMIH (Special Window for Affordable and Mid-Income Housing) the largest residential-focused stress resolution platform in the country," it added.
Sharing the details, it said approximately 61,000 homes have been delivered across 110 projects, and this includes over 7,000 units under rehabilitation/ Economically Weaker Sections (EWS) category as of December 15, 2025.
SWAMIH has been managed with strong governance standards, active asset management, and rigorous oversight, resulting in 55 full exits and 44 partial exits, it said.
SWAMIH Fund has unlocked Rs. 37,400 crore of capital across 127 projects nationwide, with over 90 million square feet of area under development, of which 44 per cent comprises LIG and MIG housing, it said, adding that it has also generated over 36,000 skilled and unskilled jobs, including 3,500 permanent jobs.
In addition, the fund has contributed an estimated Rs. 6,900 crore in revenues to the Centre and states through GST, government dues, and stamp duties, it said.
The revival of stalled projects has generated demand for over 20 lakh tonnes of cement and 5.5 lakh metric tonnes of steel, it noted.
The fund has also returned nearly 50 per cent of the drawn capital to investors, underscoring its ability to balance social impact with financial prudence, it said, adding that it has already returned an amount of Rs. 3,500 crore out of drawn capital of Rs. 7,000 crore from the central government.
On February 1, 2025, Union Finance Minister Nirmala Sitharaman announced in the Budget 2025-26 that a SWAMIH Fund-2 will be established, as a blended finance facility with contributions from the government, banks and private investors.
This fund of Rs. 15,000 crore will aim for expeditious completion of another 1 lakh units.
A study by Propequity, commissioned by SBI Ventures Ltd in 2019, had estimated that about 1,500 projects with 4.58 lakh housing units were stalled/stressed and required aggregate funding of Rs. 55,000 crore to complete the stalled projects.
The SWAMIH Investment Fund is managed by SBI Ventures Limited, a subsidiary of State Bank of India and operates as a social impact investment platform, providing last-mile funding to distressed residential projects, including those affected by legal challenges, NPAs, or weak developer balance sheets.
The fund has raised an aggregate corpus of Rs. 15,531 crore, with participation from the central government, PSU Banks and LIC, to provide priority debt financing to stressed, brownfield and RERA-registered affordable and mid-income housing projects, thereby easing the financial burden on middle-class families who were paying both EMIs and rent due to project delays.
