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Category SWAMIH Investment Fund I

30
Jun

22.How does the Fund ensure that the developer honours all its commitments made to the homebuyers with respect advertised amenities and to quality of the construction and timelines?

The Fund shall generally implement asset management processes to ensure that project cash flows are utilized for the progress of the project only and as agreed with the developer in the investment documents. This is done with effective escrow mechanisms and assistance of external project management agencies who visit the projects regularly to ensure that

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30
Jun

21. Should customers (home buyers) approach the SWAMIH Investment Fund I for grievances /complaints /clarifications in respect to the project funded/proposed to be funded by the Fund?

For all project related information, the customer should approach the developer. We, as the financier, shall endeavor that adequate information regarding project progress is published on the project portal or communicated to the customers in some form. The Fund shall not be in a position to respond to individual customers queries in relation to the

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30
Jun

20. Does the Fund require home buyers to forgo any interest or other penalties against the developer in stressed projects?

The Fund can provide capital for construction and completion of net worth positive projects only. A project can be considered net worth positive only if the value of sold receivables plus unsold inventory is greater than cost to complete the project and to service the investment by the Fund. In some cases, a project would

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30
Jun

19. Does the Fund provide capital to projects being developed by partnership firms or individuals?

Yes, the Fund requires that the individual or partnership firm incorporates a new private limited company to develop the project. The cost of transfer of assets to this private limited company can be considered as part of the cost of the project for which funding is required. Once that is done, the Fund can provide

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30
Jun

18. What is the role of the Government of India, SBI and LIC in this fund?

The Government of India, SBI and LIC are the biggest investors in this fund that shall provide the capital. None of these investors have any role in the decision making process for investments.

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