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SWAMIH Fund Phase 2 Launched After Rs 10,037 Crore Spent in Phase 1

The Central Government is launching Phase 2 of the SWAMIH Fund following the completion of Phase 1, which saw an expenditure of over Rs 10,000 crore. Finance Minister Nirmala Sitharaman stated that 63,200 units have been completed so far from a target portfolio of 1.14 lakh homes. The new phase aims to provide solutions for the remaining inventory of stalled housing projects, specifically to assist the severely affected middle-income group. The announcement was made in Parliament alongside discussions on the Corporate Laws (Amendment) Bill, 2026 and the Finance Bill for the 2026-27 fiscal year.

Key Points: SWAMIH Fund Phase 2 Launched for Stalled Housing Projects

  • Phase 1 spent Rs 10,037.5 crore
  • 63,200 housing units completed
  • Targets 1.14 lakh total homes
  • Phase 2 for remaining stalled projects
2 min read

SWAMIH Fund to enter Phase 2 after Rs 10,037.5 crore expenditure in Phase 1

Finance Minister announces SWAMIH Fund Phase 2 after completing 63,200 homes in Phase 1. New phase aims to aid middle-income group with stalled housing.

"We are launching Phase 2 after completing Phase 1. - Nirmala Sitharaman"

New Delhi, March 23

The Central government is ready to launch Phase 2 of the SWAMIH Fund after completing Phase 1. "We are launching Phase 2 after completing Phase 1. Rs 10,037.5 crores have been spent in Phase 1 of the SWAMIH Fund, which was launched in 2019. Final closure for this phase was achieved in December 2022," said Union Finance Minister Nirmala Sitharaman in Lok Sabha on Monday.

She noted that the second phase is currently ongoing to provide solutions for stalled housing projects and offer redressal to the middle-income group.

Providing details on the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH), the Finance Minister stated that 63,200 units have been completed to date out of a total portfolio of 1.14 lakh homes targeted for completion.

She noted that because Phase 1 successfully achieved its goals, the second phase was initiated to address the remaining inventory of stalled homes. The Minister emphasised that the intention is to complete as many projects as possible to assist the middle-income group, which she described as being "severely affected."

Minister Sitharaman also discussed the Corporate Laws (Amendment) Bill, 2026, which reached the House after two years of full deliberation. She confirmed that the recommendations of the Company Law Committee (CLC) and its reports were fully taken on board.

Nirmala Sitharaman said, "The Corporate Laws (Amendment) Bill, 2026, has now come here after two years of full deliberation. The recommendations of the Company Law Committee (CLC) and its reports have been fully taken on board. CLC had representatives from industry chambers and professional institutes, legal and accounting experts. The report was also placed on the website for public comments, and comments were received and then examined."

The move comes as the second leg of the Budget session of Parliament resumes. Alongside the Corporate Laws (Amendment) Bill, the Finance Minister is also slated to move the Finance Bill, 2026, which outlines the financial proposals of the Central Government for the 2026-27 fiscal year, for consideration.

- ANI

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Reader Comments

P
Priya S
63,200 homes completed is a good number, but what about the remaining 50,800? The target was 1.14 lakh. Phase 2 must be more transparent about timelines and which projects are being prioritized. Middle-class families are paying EMIs for homes they can't live in.
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Aman W
Spending over 10,000 crore is a big deal. Hope the funds are used effectively and there's strict monitoring. We've seen too many real estate scams. Jai Hind!
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Sarah B
As an NRI looking to invest in property back home, this gives me some confidence. Stalled projects have been a major worry. If the government is stepping in to complete them, it signals stability.
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Vikram M
Good move, but what about the builders who ran away with the money? They should be held accountable first. Only then will trust return to the sector. Phase 2 should have a clause for recovering funds from defaulting promoters.
K
Kavya N
Finally some relief for the middle class! The "severely affected" description is so true. Paying rent and home loan EMI together for years is a nightmare. Hope Phase 2 speeds things up. 👍

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