In 2019, several homebuyers, largely those belonging to middle income groups, made representation to @PMOIndia about their situation- having to pay EMI while continuing to live in rented houses. Projects were stalled, they didn’t get possession of their homes. @PIB_India (1/4)
The real estate sector was under stress. Financial institutions couldn’t give additional funds to complete the projects.
The #middleclass #homebuyers were in a quandary.
After several stakeholder consultations, #SWAMIH Fund was created.
@PIB_India (2/4)
The #middleclass #homebuyers were in a quandary.
After several stakeholder consultations, #SWAMIH Fund was created.
@PIB_India (2/4)
Stalled #RERA-registered projects from all over the country were identified. Steps in due diligence were taken.
Despite #Covid,the @finmin, @DFS_India, @MoHUA_India @TheOfficialSBI worked together. Several state govts were proactive in facilitating the process.
@PIB_India (3/4)
Despite #Covid,the @finmin, @DFS_India, @MoHUA_India @TheOfficialSBI worked together. Several state govts were proactive in facilitating the process.
@PIB_India (3/4)
Today, 640 #homebuyers received the keys for their homes. From this #SWAMIH Investment Fund (I), a total of 1,16,600 #homebuyers will get possession of their homes.
I thank the @PMOIndia @narendramodi for his continuous support and guidance.
@PIB_India @FinMinIndia (4/4)
I thank the @PMOIndia @narendramodi for his continuous support and guidance.
@PIB_India @FinMinIndia (4/4)
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