In the Union Budget 2025, Finance Minister Nirmala Sitharaman has announced a big relief for home buyers. The government has announced the Swamih Fund 2.0 of Rs 15,000 crore for those who had remained incomplete. Under this fund, emphasis will be laid on completing the housing projects stranded across the country and about 1 lakh houses will be delivered soon.
Fund 2.0 announced after the success of the first phase
The Swamih Fund began in November 2019, which was aimed at funding the stranded residential projects on priority basis. In the first phase of the scheme, 50,000 houses were completed and the buyers were handed keys. In addition, 40,000 more houses are planned by 2025.
In view of this success, the government has now launched Swamih Fund 2.0, which has targeted 1 lakh more houses.
How will Swamih Fund 2.0 work?
The Swamih Fund 2.0 has been brought to the blended finance model, with the government, bank and private investors partners. Its main objective is to complete the stranded housing projects on time and to overcome the cash crisis in the country’s real estate sector.
This fund will focus on projects that have stopped due to financial problems and in which buyers have been waiting for their home for a long time.
Middle class families will get big relief
Millions of families were facing double hit due to stranded projects. He also had to pay the EMI of home loan and also had to bear the cost of renting. Under the Swamih Fund 2.0, these projects will be completed on time and they will be given delivery of their homes as soon as possible, which will provide relief to them.
Cash crisis will be overcome in real estate sector
Swamih Fund 2.0 will play an important role to complete about 4.12 lakh houses stranded in 7 major cities of the country. This fund will not only complete these projects, but will also remove the problem of cash in the real estate sector.