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SWAMIH makes real Social Impact; 6000 units delivered and counting
Project Overview
Winspace Amelio is a MAHDA residential redevelopment with total saleable carpet area of 64,735 Sq ft 88 units. There were existing 40 society members.
Project developed by Bini Builders Pvt Ltd
The Location
Project is located D.N. Nagar, Andheri W, MMR.
History
Project was launched in 2011-12 and expected to be complete by 2018-19.
However, delayed due to various reasons such as change in regulations, delay approvals and COVID impact.
Overall, the project was delayed by about 3-4 years.
SWAMIH Investment
SWAMIH Fund invested in the project in Sept 2020 with a target to complete the project.
Of the committed investment of Rs 60.5 Cr, SWAMIH Fund has invested Rs 26 Cr so far.
As on July 2023, Bini Builders Pvt Ltd has re-paid Rs 26 Cr along with 12% XIRR.
SWAMIH Impact
- Project completed within ~3 years of investment despite losing 4-5 months in covid lockdowns.
- Monitoring to ensure no diversion of funds – all inflows are used for project completion.
- Contractor/vendors dues cleared. Salaries paid to the employees.
- 39 new units sold; ~69 Cr collected.
- 40 tenants + 88 homebuyers to finally get their homes.