Swamih fund: Finance Minister Nirmala Sitharaman has given a big gift to those who have been waiting for their dream home and getting their possession for a long time. The Finance Minister announced in the budget that construction of 40,000 incomplete and stopped houses will be completed. In the first phase of this scheme, 50 thousand houses have been prepared so far and their keys will be given to the house buyers. The project has been prepared from special windows for the affordable and medium income housing fund (SWAMIH Fund) created by the government.
Home buyers will get relief
The SWAMIH (Special Window for Affordable and Medium Income Housing) Fund is a government initiative aimed at providing financial assistance to the housing projects stuck in the real estate sector. There are many projects that have remained incomplete due to legal hurdles, financial crisis or other reasons. This fund will revive such projects and provide relief to home buyers.
What will be available under Swamih fund?
- Financial assistance for stopped housing projects
- Providing affordable houses to middle and low income group
- Real estate area increase in liquidity
- Increase employment opportunities in the construction sector
What will be the effect of this?
- Relief to buy home: People who have been waiting to buy their house for years will soon be able to get possession.
- Increase in investment in real estate sector: The money trapped in the market will gain momentum, which will also start new projects.
- Increase in economy: Industries related to the housing area (cement, steel, construction) will also benefit from reforms.
