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HOUSES UNDER SPECIAL WINDOW FOR COMPLETION OF AFFORDABLE AND MID-INCOME HOUSING CREATED

HOUSES UNDER SPECIAL WINDOW FOR COMPLETION OF AFFORDABLE AND MID-INCOME HOUSING CREATED

Context

Recently, Finance Minister handed over houses to buyers under Special Window Project

Details

  • The residential project - 'Rivali Park', situated in suburban Mumbai, was the first housing project in the country to have received funding under the government's SWAMIH Fund.

About Special Window for Affordable and Mid Income Housing (SWAMIH) fund

  • It was set up as a Category-II AIF (Alternate Investment Fund) debt fund registered with SEBI.
  • Aim : To provide priority debt financing for the completion of stalled housing projects.
  • Sponsor of the Fund :  Secretary, Department of Economic Affairs, Ministry of Finance, Government of India on behalf of the Government of India.

About Alternate Investment Fund

Definition : As per  Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, It refer to any privately pooled investment fund, (whether from Indian or foreign sources), in the form of a trust or a company or a body corporate or a Limited Liability Partnership (LLP).

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