Housing project gets ₹136 cr. investment

Posted on: October 21, 2021 Posted by: Janapriya Comments: 0

Housing project gets ₹136 cr. investment

Gated Community near Sainikpuri
Special Correspondent HYDERABAD

The SWAMIH Investment Fund 1 has invested ₹ 136 crore in a gated-community project being developed by Janapriya Projects Pvt Ltd on over 8.212 acres near Sainikpuri in the city.

A category II alternative investment fund, the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I) is a government-backed last mile financing platform for affordable housing. The ₹12,500-crore Fund, with an option of an additional ₹12,500 crore, aims to provide capital for completion of stalled housing projects in the country.

Janapriya in a release on Wednesday said the impact of COVID-19 had necessitated the need for funds. The funds from SWAMIH will give the required impetus for completion of the project. The total investment required is ₹149.62 crore, the company said.

Janapriya chairman K. Ravinder Reddy said project is expected to be completed in 36 months.

Source: thehindu.com

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