Latest news with #SpecialWindowforAffordableandMid-IncomeHousing
Hindustan Times
31-07-2025
- Business
- Hindustan Times
ATS group repays ₹133 Crore to SWAMIH fund for Gurugram's ATS Marigold project
Realty firm ATS Infrastructure has repaid around ₹190 crore as principal and interest to a government-backed stress fund SWAMIH, which had invested ₹133 crore in its stalled housing project in Gurugram. Noida-based ATS Group is one of the leading player in the Delhi-NCR residential real estate market.(Bloomberg File) The company has repaid ₹133 crore investment made from the SWAMIH (Special Window for Affordable and Mid-Income Housing) Investment Fund I for its residential project 'ATS Marigold', located on the Dwarka Expressway in Gurugram. "We have given exit to SWAMIH Fund in our Gurugram project 'ATS Marigold' by repaying ₹133 crore principal amount," said Udaivir Anand, Managing Director, ATS Group. The company paid ₹57 crore as interest. He said the fund has helped in completing this project, which has 422 units across six towers. The company got this fund at a time when the project was facing a huge cash-crunch because of slow sales in view of the Covid-19 pandemic. ATS Infrastructure has also obtained occupation certificate from the authorities. In this project, the SWAMIH fund entered in February 2021, when the project had nearly 4.5 lakh sq ft of unsold inventory and relatively subdued sales momentum. The average price point at the time was ₹6,000-6,500 per sq ft. The current market prices in the project are reported in the range of ₹13,500-15,000 per sq ft. The project, which faced construction slowdowns due to NBFC crisis in 2018 and during the Covid-19 pandemic, benefitted from last-mile funding provided under the government-backed stress resolution fund. In November 2019, the Centre announced a stress fund named SWAMIH to complete stalled housing projects across India. The first fund, with a corpus of ₹15,530 crore, is being managed by SBICAP Ventures Ltd, a State Bank Group company. Following the success of the first fund, the government in this year's Budget announced a fresh ₹15,000 crore 'SWAMIH Fund' for completion of 1 lakh units in stalled housing projects across various cities, a move aimed at providing relief to distressed homebuyers whose investments are stuck. Noida-based ATS Group is one of the leading player in the Delhi-NCR residential real estate market. ATS Group firm ATS Homekraft has sold properties worth ₹2,000 crore on Dwarka expressway and Yamuna Expressway (near the upcoming Jewar Airport) in the last few months. The company is in the process of launching end user focussed projects in Gurgaon and North Delhi.
Time of India
02-05-2025
- Business
- Time of India
Number of homes delivered in India's top 9 cities rises to over 4 lakh in FY25
Over the past three fiscal years, the total number of residential units completed and handed over exceeded 1 million homes. (AI image) Housing deliveries in India's top 9 cities increased by 33% to 4,06,889 units in FY25, with Delhi-NCR being the only region showing a year-on-year decrease, as reported by NSE-listed data analytics organisation PropEquity . The aggregate housing deliveries across the previous three financial years exceeded 10 lakh units. The analysed cities include Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Thane, Navi Mumbai and Pune. Delhi-NCR showed an 8% reduction in housing deliveries during FY25. The remaining 8 cities demonstrated growth ranging from 22% to 88% in housing deliveries, with Kolkata showing the highest increase at 88% whilst Mumbai recorded the lowest growth at 22% in FY25. "More than 1 lakh homes have been delivered in FY25. The cause of this surge is due to the delivery of homes launched in 2018/19, the construction of which experienced some slowdown due to the pandemic and other factors. The deliveries have also been expedited due to government's SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund," said Samir Jasuja, Founder and CEO, PropEquity. The report indicates that Western India (Mumbai, Navi Mumbai, Thane and Pune) contributed 55% of total housing deliveries in FY25, increasing from 53% in FY24. Southern India (Bengaluru, Chennai and Hyderabad) represented 30%, up from 28% in FY24. Kolkata's contribution rose to 4% in FY25 from 3% in FY24. Delhi-NCR's share decreased to 11% in FY25 from 16% in FY24.
Time of India
01-05-2025
- Business
- Time of India
Over 4 lakh homes delivered in FY25, 33% Y-o-Y increase
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The number of homes delivered in India 's top 9 cities have risen by 33% to 4,06,889 units in FY25 with only Delhi-NCR witnessing a Y-o-Y decline, according to a report by NSE-listed data analytics firm this, the total homes delivered in the last three financial years stood at over 10 lakh top 9 cities are Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Thane, Navi Mumbai and Pune. Delhi-NCR bucked the trend with 8% decline in the number of homes delivered in other 8 cities witnessed 22-88% growth in number of homes delivered with Kolkata (88%) rising the most and Mumbai (22%) rising the least in FY25.'More than 1 lakh homes have been delivered in FY25. The cause of this surge is due to the delivery of homes launched in 2018/19, the construction of which experienced some slowdown due to the pandemic and other factors. The deliveries have also been expedited due to government's SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund,' said Samir Jasuja, Founder and CEO, to the report, Western India (Mumbai, Navi Mumbai, Thane and Pune) accounted for 55% of the total homes delivered in FY25, a rise from 53% in FY24 while Southern India (Bengaluru, Chennai and Hyderabad) accounted for 30% share, a rise from 28% in FY24. Kolkata accounted for 4% share in FY25, a rise from 3% in accounted for 11% share in FY25, a decline from 16% in FY24.
Hindustan Times
30-04-2025
- Business
- Hindustan Times
Over 4 lakh homes delivered in top nine cities in FY25; Delhi-NCR market sees a decline: PropEquity
The number of homes delivered across India's top nine cities surged 33% year-on-year to reach 4,06,889 units in FY25, according to a report by NSE-listed data analytics firm PropEquity. The growth is attributed to government initiatives promoting affordable housing, SWAMIH Fund and increased pressure on developers to adhere to project deadlines. Delhi-NCR was the only region to witness a decline, with home deliveries falling 8% from the previous year. In contrast, the remaining eight cities recorded growth ranging from 22% to 88%, with Kolkata leading the trend at 88%, while Mumbai saw the most modest rise at 22%. As many as 406,889 homes were delivered in FY25 and 306,600 the year before, according to data analytics firm PropEquity. Kolkata clocked an 88% year-on-year (Y-o-Y) increase in unit deliveries: 9,441 in FY24 and 17,718 in FY25. Hyderabad and Chennai followed with increases of 61% and 49%, respectively, the report noted. Delhi-National Capital Region (NCR) reported an 8% decline: 44,423 units in FY25 compared to 48,388 units the year before. With this, the total homes delivered in the last three financial years stood at over 10 lakh units, it noted. According to the report, Western India (Mumbai, Navi Mumbai, Thane and Pune) accounted for 55% of the total homes delivered in FY25, a rise from 53% in FY24 while Southern India (Bengaluru, Chennai and Hyderabad) accounted for 30% share, a rise from 28% in FY24. Kolkata accounted for 4% share in FY25, a rise from 3% in FY24. Delhi-NCR accounted for 11% share in FY25, a decline from 16% in FY24. The top 9 cities are Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Thane, Navi Mumbai and Pune. 'More than 1 lakh homes have been delivered in FY25. The cause of this surge is due to the delivery of homes launched in 2018/19, the construction of which experienced some slowdown due to the pandemic and other factors. The deliveries have also been expedited due to government's SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund. The strict compliance and implementation under RERA have also played a major role in developers adhering to project delivery timelines,' said Samir Jasuja, founder and CEO, PropEquity. 'The positive market sentiments over the past couple of years have ensured strong cash-flows and faster project executions. As reputed and branded developers increase their market share, this trend in delivery of homes is expected to continue. SWAMIH 2.0 will also play a significant role in expediting delivery of stalled projects,' he said.
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Business Standard
30-04-2025
- Business
- Business Standard
Houses delivered in 9 major Indian cities up 33% in FY25: Report
India's nine major cities clocked a 33 per cent annual rise in the number of homes delivered to customers in FY25, said a report on Wednesday, crediting government programmes for affordable housing and making realtors to meet deadlines as among reasons for the trend. As many as 406,889 homes were delivered in FY25 and 306,600 the year before, according to data analytics firm PropEquity. Kolkata clocked an 88 per cent year-on-year (Y-o-Y) increase in unit deliveries: 9,441 in FY24 and 17,718 in FY25. Hyderabad and Chennai followed with increases of 61 per cent and 49 per cent, respectively, Delhi-National Capital Region (NCR) reported an 8 per cent decline: 44,423 units in FY25 compared to 48,388 units the year before. Samir Jasuja, founder and chief executive officer of PropEquity, said government schemes such as Special Window for Affordable and Mid-Income Housing (Swamih) Fund and Real Estate Regulation Act (Rera) as primary drivers for the growth in deliveries. 'The deliveries have also been expedited due to Swamih Fund and strict compliance and implementation under Rera, which played a major role in developers adhering to project delivery timelines,' Jasuja said. The report studied home deliveries in Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Thane, Navi Mumbai and Pune. Deliveries improved in the housing markets of West and South India. The western market, which includes Mumbai, Navi Mumbai, Thane and Pune, saw 221,691 units being delivered in FY25 compared to 163,414 in FY24. The region accounted for 55 per cent of the total homes delivered in key markets. The southern market, which includes Bengaluru, Hyderabad and Chennai, accounted for 30 per cent of total house deliveries. As many as 123,057 units were delivered in the region in FY25 and 85,357 the year before. Jasuja said that positive market sentiment in the past couple of years has ensured strong cash flows and faster project execution. 'As reputed and branded developers increase their market share, this trend in delivery of homes is expected to continue. Swamih 2.0 will also play a significant role in expediting delivery of stalled projects,' he said.
