Housing revival to boost economic sentiment: FM Nirmala Sitharaman

SWAMIH Fund to benefit 116,000 home buyers, help banks and NBFCs grow

Finance Minister Nirmala Sitharaman on Thursday said renewing stalled real estate projects will significantly improve economic sentiment in the country grappling with a second wave of Covid.

This will also boost the portfolios of banks and non-banking financial companies (NBFCs), said the FM at a virtual event where she handed over possession of Rivali Park to home buyers.

The Mumbai-based project, which had been stalled for some time, was completed under the Centre’s special liquidity window — Special Window for Affordable & Mid-Income Housing (SWAMIH-I).

This is the first residential project completed by SWAMIH, which was created in 2019 to fund stuck affordable