SWAMIH Fund II Announced to Revive Stalled Housing Projects, Says Finance Minister
New Delhi, March 23 — The government has announced the launch of SWAMIH Investment Fund II to provide relief to homebuyers stuck in delayed housing projects, Finance Minister Nirmala Sitharaman informed Parliament on Monday.The fund, unveiled in the Union Budget 2026–27, aims to accelerate the completion of stalled residential units and restore confidence in the real estate sector.
₹15,000 Crore Fund to Complete 1 Lakh Stalled Homes
The Budget has allocated ₹15,000 crore for the new SWAMIH Fund II, targeting the completion of around 1 lakh housing units across multiple cities.The initiative focuses on affordable and mid-income housing projects that have been delayed due to financial stress, offering much-needed relief to thousands of homebuyers.
SWAMIH Fund’s Impact: Over 63,000 Homes Delivered
As of January 31, 2026, the existing Special Window for Affordable and Mid-Income Housing has committed investments in 148 projects across India.The fund has already delivered 63,200 homes, with a total portfolio of 1,01,443 housing units. The initiative has played a crucial role in reviving buyer confidence and reducing stress in the housing market.
First SWAMIH Fund Launched in 2019 to Support Stressed Projects
The SWAMIH initiative was first introduced in 2019 as a stress fund to revive stalled housing projects nationwide. Structured as an Alternative Investment Fund (AIF), it provides priority debt financing to viable but delayed projects.The fund is managed by SBI Ventures, which oversees funding and project execution.
₹15,530 Crore Raised Under SWAMIH Fund I
Under the first SWAMIH Fund, a total of ₹15,530 crore has been secured so far. The funding is directed towards completing residential projects that are:- Stressed or stalled (brownfield projects)
- Registered under RERA
- Part of the affordable or mid-income housing segments
A Lifeline for Stalled Real Estate Projects
SWAMIH has emerged as a last-resort funding mechanism for distressed housing projects. It supports developers facing financial challenges, legal disputes, or non-performing asset (NPA) issues.By enabling project completion, the fund not only benefits homebuyers but also stimulates economic activity in the construction and real estate sectors.
SWAMIH Fund II to Strengthen Housing Sector Recovery
With the launch of SWAMIH Fund II, the government aims to build on the success of the first fund and further stabilise the housing sector.The initiative is expected to fast-track pending projects, improve liquidity, and provide long-awaited relief to homebuyers across India.
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