Union Budget 2025: Major Boost For Homebuyers With SWAMIH 2 & 40,000 New Completions

On February 1, 2025, Finance Minister Nirmala Sitharaman presented the Union Budget 2025 to Parliament, revealing key steps to boost affordable housing. A standout point was the plan to finish 40,000 homes in 2025-26 under the Special Window for Affordable and Mid-Income Housing (SWAMIH) program.

This initiative will offer much-needed relief to families that have been paying rent (however) they wait for their purchased apartments to be made ready. Although there are challenges ahead, these steps are crucial because they address the pressing need for housing solutions.

The minister disclosed that 50,000 homes within stressed housing projects have already been completed; keys have been handed over to buyers. This development represents a significant breakthrough for homebuyers who are stuck in delayed projects. However, one must consider the challenges that remain. Although progress has been made, there are still many hurdles to overcome because the issues affecting the housing market are complex and multifaceted.

Building on this momentum, SWAMIH 2 (a new Rs 15,000 crore fund) was unveiled. This initiative is supported by the government, banks, and private investors; it aims to accelerate the completion of one lakh additional housing units. This budget marks Sitharaman’s eighth straight financial plan, bringing her closer to the milestone of ten budgets set by former Prime Minister Morarji Desai.

Source: The Hindu

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