SWAMIH Sanctions ₹115 Cr for Antriksh Valley

The SWAMIH Investment Fund continues to play a pivotal role in reviving stalled housing projects across India, particularly in the NCR region. In its latest move, the fund has sanctioned ₹115 crore for the completion of the long-delayed Antriksh Valley project located in Sector 1, Greater Noida West. The funding is expected to provide a significant boost to homebuyers who have been waiting for possession for several years.

Antriksh Valley was originally launched in 2011–12 by Diligent Builders Pvt. Ltd. The project proposed the development of 316 residential units, now designed as 3 and 4 BHK apartments, along with 15 commercial units. Spread across a 10,020 sq m three-side open plot, the project promised modern amenities such as a clubhouse, gym, landscaped green areas, and double basement parking. However, like many projects launched during that period, it failed to meet its delivery timelines of 2016–18 due to multiple setbacks, including market slowdown, weak sales, funding constraints, demonetisation, and later the COVID-19 pandemic.

Since 2023–24, under new management, the developer has taken substantial corrective measures to revive the project. This includes clearing ₹45 crore in land dues to the Greater Noida Authority and settling ₹5.5 crore in RERA penalties. Additionally, ₹15 crore was paid to approximately 60 buyers who chose to exit the project. The developer also secured a revised sanctioned building plan by paying 25 percent of land dues as per the Amitabh Kant Committee guidelines. Importantly, a RERA extension was obtained, enabling construction activity to formally resume.

The ₹115 crore funding package comprises ₹95 crore from the SWAMIH Fund along with ₹20 crore raised through Non-Convertible Debentures (NCDs). This financial support will facilitate the completion of the remaining towers and common amenities. SBI Capital has been appointed as the monitoring agency to oversee fund utilisation and ensure timely execution. The security structure includes mortgage of land, charge on receivables, pledge of 100 percent equity, corporate guarantees, and step-in rights, offering strong safeguards for the fund.

Lt. Col. Ashwani Nagpal (Retd.), COO of Diligent Builders, stated that the approval by SWAMIH assures homebuyers that project completion and possession remain the top priority. He highlighted that the first tower is almost ready, and the fresh funding will accelerate work on common amenities and the second tower, which will feature 3 and 4 BHK units in line with evolving market demand.

The SWAMIH Fund, backed by a ₹15,531 crore corpus from the Government of India, PSU banks, and LIC, and currently managed by SBI Ventures, has already facilitated the completion of over 61,000 homes by December 2025. Its mandate focuses on last-mile funding for stressed affordable and mid-income housing projects that are net worth positive but stuck due to liquidity constraints.

For homebuyers and investors in stalled projects, this development is encouraging. The continued intervention by SWAMIH not only restores confidence but also strengthens the overall real estate ecosystem. Buyers stuck in delayed projects across NCR and other regions are advised to check project eligibility under SWAMIH and monitor updates through the respective RERA portals for potential revival opportunities.