Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I), the government-backed last-mile financing platform has made an investment of over Rs 150 crore to complete a residential project of realty developer Tridhaatu Realty & Infra located in Chembur, Mumbai.
As per the terms, SWAMIH’s investment will hold senior charge for the exit from the project once it gets completed and the existing investor will get repaid after that.
Tridhaatu had started this project Tridhaatu Morya in 2018 and now with the financial support from SWAMIH I, it is expected to complete the same by December 2023 as per the final investment terms. The funding will be utilised for construction activities and paying statutory development premiums to the government authorities along with ensuring the completion of the project within the RERA deadline.
Commenting on the investment, Pritam Chivukula, Co-Founder and Director, Tridhaatu Realty said, “This last-mile funding from SWAMIH fund has helped us speed-up the construction activities at our site.”
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