SWAMIH Investment Fund 1 has invested ₹ 136 crore in Janapriya Lakefront and Sitara Projects, which are being taken up at an estimated cost of ₹ 150 crore.
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.
“With funds infusion from SWAMIH, the project’s proposed next phase with 1,502 apartments will be delivered in the next 12 to 30 months,” a Janayapriya Projects Private Ltd spokesperson has said in a statement.
Spread over 8.21 acres, the project comprises a saleable area of 1.256 million sq ft.
The project has six towers with a mix of two and three-bedroom affordable apartments. “On completion of the total project with 10 blocks, it would house 2,245 affordable homes,” he said.