SWAMIH 2.0 Fund Expanded To Build Mid Income Housing

Finance Minister Nirmala Sitharaman announced the launch of the second update of the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund, with an additional allocation of Rs 15,000 crore. This fund aims to support the completion of 1 lakh housing units that are stuck in various stages of development.

During her Budget speech on February 1, Sitharaman highlighted that the SWAMIH Fund has already facilitated the completion of 50,000 dwelling units in stressed housing projects, with keys handed over to homebuyers. An additional 40,000 units are expected to be completed in 2025. This initiative is set to provide significant relief to middle-class families who are currently burdened with both home loan EMIs and rent payments for their existing residences.