SWAMIH Fund revives stalled housing, delivers 61,000 homes and creates 36,000 jobs: Govt data

The government-backed SWAMIH Investment Fund has emerged as one of the most consequential interventions in India’s stalled housing sector, with officials saying the programme has helped revive delayed projects, protect homebuyers and generate employment across the construction ecosystem.

Launched in November 2019 after approval by the Union Cabinet chaired by Prime Minister Narendra Modi, the Special Window for Affordable and Mid-Income Housing (SWAMIH) was set up to provide last-mile funding to residential projects stuck due to financial stress, litigation or weak developer balance sheets. The fund, supported by the Department of Economic Affairs under the Ministry of Finance, has now fully committed its investible corpus, completing its investment cycle on December 5, 2025.

The SWAMIH Investment Fund has delivered a broad economic and social impact by reviving stalled housing projects and restoring confidence in the residential sector. As per government data, the fund has unlocked over Rs 37,400 crore across 127 projects, sanctioned more than Rs 14,800 crore in capital and enabled customer collections of Rs 10,470 crore.

It has supported the creation of over 36,160 skilled and unskilled jobs, including 3,520 permanent roles, with women accounting for 15% of the workforce. More than 5.33 lakh lives have been impacted. On the infrastructure side, SWAMIH-backed projects have generated demand for over 20 lakh tonnes of cement and 5.5 lakh tonnes of steel, added more than 1.06 lakh trees, and delivered over 54,300 homes, with a strong focus on affordable housing.

According to government data, SWAMIH’s portfolio spans more than 145 projects across 30 cities, making it the largest residential-focused stress resolution platform in the country. The fund is expected to enable the delivery of over one lakh homes, benefiting more than four lakh people.

As of December 15, 2025, around 61,000 housing units across 110 projects have already been delivered, including more than 7,000 homes in rehabilitation and Economically Weaker Sections (EWS) categories. Officials say this has brought relief to thousands of buyers who were caught in long-delayed projects and paying both EMIs and rent.

Beyond housing completions, the fund’s broader economic footprint is becoming visible. SWAMIH has unlocked over ₹37,400 crore in capital across 127 projects nationwide, covering more than 90 million square feet of development, with 44% of this in low- and middle-income housing. Construction activity under these projects has generated more than 36,000 jobs, including about 3,500 permanent positions, according to estimates shared by the government.

The revival of stalled sites has also boosted allied industries. Demand has risen for more than 20 lakh tonnes of cement and 5.5 lakh metric tonnes of steel, while the projects have added over 1.06 lakh trees as part of green cover initiatives. On the fiscal side, authorities estimate that SWAMIH-supported projects have contributed over ₹6,900 crore in revenues to the Centre and states through GST, stamp duties and other statutory payments.

Managed by SBI Ventures, a subsidiary of State Bank of India, the SWAMIH Investment Fund has raised a corpus of ₹15,531 crore with participation from the Government of India, PSU banks and LIC. The fund has already returned nearly half of the capital drawn from investors, including about ₹3,500 crore repaid to the government.

Buoyed by the programme’s progress, the Centre announced in Budget 2025–26 the launch of SWAMIH Fund-2, a ₹15,000 crore blended finance facility involving government, banks and private investors. The second fund aims to fast-track the completion of another one lakh housing units, as policymakers look to sustain momentum in resolving stressed residential projects and restoring buyer confidence in the housing market.