The Eco Green Buildtech housing project in Greater Noida has received the first instalment of Rs 41 crore under the Special Window for Affordable & Mid-Income Housing (SWAMIH) fund. The move will pave the way for the time-bound delivery of 1,000 flats in the stalled project. The money has been deposited with the Greater Noida Authority.
According to a statement issued by the Greater Noida Authority on Saturday, Eco Green Buildtech has become the third project in Greater Noida to receive a grant under the SWAMIH fund. The other two are Capital Athena and Panchsheel Greens-2.
The central government has formed the SWAMIH Fund to financially help stalled projects so that homebuyers can get their flats in a time-bound manner. SBI Capital is responsible for providing financial aid under the scheme to stalled projects.
The statement said that the SWAMIH fund has approved about Rs 207 crore for completion of the stalled real estate project and also to clear dues of Rs 74 crore owed to the Greater Noida Authority.