Airoli project with 100 units completed; SWAMIH gets repaid entirely
Project Overview
Newa Bhakti Park is a residential development with total saleable area of 1.9L Sq ft and 108 units
Project being developed by Newa Technocity (I) Pvt Ltd.
The Location
Project is located in Airoli, very near to Accenture IT park, close to Thane Belapur road & Eastern express highway
Project History
Project was launched in 2017
However, delayed due to inadequate funding and covid impact
Overall, the project was delayed by about 3 years
SWAMIH Investment
Project was launched in 2017
However, delayed due to inadequate funding and covid impact
Overall, the project was delayed by about 3 years
SWAMIH Impact
Project completed within ~2 years of investment despite losing 4-5 months in covid lockdowns.
Monitoring to ensure no diversion of funds u2013 all inflows are used for project completion
Contractor/vendors dues cleared. Salaries paid to the employees
12 new units sold; ~25 Cr collected
108 homebuyers to finally get their homes
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