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With reference to the SWAMIH Fund, consider the following statements:
- It a social impact fund specifically formed for completing stressed and stalled residential projects.
- The fund is sponsored by the Union Ministry of Finance.
Which of the statements given above is/are correct?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to the SWAMIH Fund, consider the following statements: ...
The correct answer is option 'C' - Both 1 and 2.
Explanation:
The SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund was launched by the Government of India in November 2019. It is a social impact fund specifically formed for completing stressed and stalled residential projects. The fund aims to provide last-mile funding for the completion of affordable and mid-income housing projects across the country.
The SWAMIH Fund is sponsored by the Union Ministry of Finance. It was created under the aegis of the National Investment and Infrastructure Fund (NIIF). NIIF is a fund created by the Government of India to provide long-term capital to infrastructure projects in the country.
The primary objective of the SWAMIH Fund is to revive the real estate sector and provide relief to home buyers who have invested in stalled projects. Many residential projects in India have been delayed or stalled due to various reasons such as funding issues, regulatory hurdles, and economic slowdown. This has resulted in hardships for homebuyers who have invested their hard-earned money in these projects.
The SWAMIH Fund has a corpus of Rs. 25,000 crore, with the government contributing Rs. 10,000 crore and the remaining amount being raised from other investors such as banks, sovereign wealth funds, and domestic and foreign institutional investors. The fund is managed by SBICAP Ventures Limited, which is a subsidiary of the State Bank of India.
The SWAMIH Fund provides financial assistance to developers to complete stalled projects and deliver homes to the buyers. It focuses on affordable and mid-income housing projects, which are generally the most affected by delays and cost overruns. The fund provides last-mile funding, which means it steps in when the project is nearing completion and requires additional funds to finish construction and deliver the completed units.
In conclusion, the SWAMIH Fund is a social impact fund sponsored by the Union Ministry of Finance. It aims to complete stressed and stalled residential projects, with a focus on affordable and mid-income housing.
Explanation:
The SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund was launched by the Government of India in November 2019. It is a social impact fund specifically formed for completing stressed and stalled residential projects. The fund aims to provide last-mile funding for the completion of affordable and mid-income housing projects across the country.
The SWAMIH Fund is sponsored by the Union Ministry of Finance. It was created under the aegis of the National Investment and Infrastructure Fund (NIIF). NIIF is a fund created by the Government of India to provide long-term capital to infrastructure projects in the country.
The primary objective of the SWAMIH Fund is to revive the real estate sector and provide relief to home buyers who have invested in stalled projects. Many residential projects in India have been delayed or stalled due to various reasons such as funding issues, regulatory hurdles, and economic slowdown. This has resulted in hardships for homebuyers who have invested their hard-earned money in these projects.
The SWAMIH Fund has a corpus of Rs. 25,000 crore, with the government contributing Rs. 10,000 crore and the remaining amount being raised from other investors such as banks, sovereign wealth funds, and domestic and foreign institutional investors. The fund is managed by SBICAP Ventures Limited, which is a subsidiary of the State Bank of India.
The SWAMIH Fund provides financial assistance to developers to complete stalled projects and deliver homes to the buyers. It focuses on affordable and mid-income housing projects, which are generally the most affected by delays and cost overruns. The fund provides last-mile funding, which means it steps in when the project is nearing completion and requires additional funds to finish construction and deliver the completed units.
In conclusion, the SWAMIH Fund is a social impact fund sponsored by the Union Ministry of Finance. It aims to complete stressed and stalled residential projects, with a focus on affordable and mid-income housing.
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With reference to the SWAMIH Fund, consider the following statements: ...
Recently, the Prime Minister of India congratulated new home owners in Bengaluru’s first project under SWAMIH Fund.
- The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I is a social impact fund specifically formed for completing stressed and stalled residential projects.
- The Fund is sponsored by the Ministry of Finance, Government of India.
- It is managed by SBICAP Ventures Ltd., a State Bank Group company.
- It has one of the largest domestic real estate private equity teams focused only on funding and monitoring the completion of stressed housing projects.
- It is a Category-II AIF (Alternate Investment Fund) debt fund registered with the Securities and Exchange Board of India.
Eligibility criteria for funding
- Real estate project must be registered under the Real Estate (Regulation and Development) Act (RERA) 2016.
- Project must be classified as a non-performing asset (NPA) or be under insolvency proceedings.
- The project should have been declared as a "stalled" or "delayed" project by a competent authority.
- The fund is available only for projects that fall under the affordable and mid-income housing categories.
Hence both statements are correct.
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With reference to the SWAMIH Fund, consider the following statements: It a social impact fund specifically formed for completing stressed and stalled residential projects. The fund is sponsored by the Union Ministry of Finance.Which of the statements given above is/are correct?a)1 Onlyb)2 Onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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