SWAMIH Fund backed by the government for last mile funding for realtor estate projects has invested Rs 150 crore in a Chembur project
By Varun Singh
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 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 the 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 & Director, Tridhaatu Realty said, “This last-mile funding from SWAMIH fund has helped us speed-up the construction activities at our site. The project management team of SWAMIH is thoroughly recording and monitoring the progress of the development each day to ensure timely completion of the project to the homebuyers. We at Tridhaatu Realty have always prioritized our customers’ satisfaction and are assuring them the on-time delivery of Tridhaatu Morya backed by SWAMIH’s support.”
Tridhaatu Morya comprises 1 & 2 Bed Residences starting from 1.37 cr onwards. The gated residential complex is one of the very few projects in the neighbourhood that is a freehold development and a non-SRA project. It is spread over 2 acres featuring 3 towers of 18 floors each with 3 Basements and 1 Podium. The carpet area for the apartments ranges between 477.28 sq. ft. to 723.77 sq. ft.
With more than 16+ lifestyle amenities, the project is centrally located in Chembur that enjoys the best physical and social infrastructure in the immediate vicinity. It also enjoys excellent connectivity to the Eastern Freeway, Santacruz Chembur Link Road (SCLR), BKC, and Navi Mumbai. The RERA possession of the project will be June 2025.
Also Read: SWAMIH Completes First Residential Project
