India, Feb. 27 -- Union housing minister Manohar Lal proposes dedicated fund to revive pre-RERA stalled projects

The latest funding from SWAMIH Fund represents a major step toward delivering the long-awaited project and bolsters confidence among prospective homebuyers. Launched in 2011-12, the project was originally slated for completion between 2016 and 2018 but faced prolonged delays due to market fluctuations, weak sales, fund management issues, demonetization, the COVID-19 pandemic, and other challenges. During the stalled period, rising refund demands from early homebuyers further strained finances.

The SWAMIH Fund is a government-backed investment vehicle in India created to complete stalled housing projects, particularly those ta...