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SWAMIH Fund invests Rs 150 crore in Tridhaatu Realty’s Chembur project, Real Estate News, ET RealEstate

SWAMIH Fund invests Rs 150 crore in Tridhaatu Realty's Chembur project, Real Estate News, ET RealEstate
NEW DELHI: 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 Tridhaatu Realty & Infra’s Tridhaatu Morya project situated in Chembur, Mumbai, the company said in a media release.

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.

Pritam Chivukula, co-founder & director, Tridhaatu Realty said, ‚ÄúThis 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.”

Spread over two acres, the project has three towers of 18 floors each with apartment price starting from 1.37 crore. The RERA possession of the project will be June 2025.


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