Omaxe repays SWAMIH fund debt of two projects

Omaxe Group has repaid debt availed from SWAMIH-fund for two of its developments—The Lake, New Chandigarh, and Omaxe Shiva, Shiva 2, and Shiva 3 in Prayagraj.

The Lake, New Chandigarh is a premium group housing development with a saleable area of 28,00,205 sq. ft., comprising 1,402 units. In Prayagraj, Omaxe Shiva, Shiva 2 and Shiva 3 collectively offer independent floors with a saleable area of 5,60,680 sq. ft., comprising 304 units.

“Our association with the SWAMIH Fund has been instrumental in advancing these projects to completion,” said Mohit Goel, Managing Director, Omaxe Ltd.


Both projects received last-mile credit facilities from the Special Window for Affordable and Mid-Income Housing (SWAMIH), amounting to Rs 168.80 crore for development of The Lake, New Chandigarh and Rs 60.40 crore for development of Omaxe Shiva, Shiva 2, and Shiva 3 in Prayagraj.

With construction now substantially complete across both developments, Omaxe has fully repaid the utilised SWAMIH facility, entirely from internal project cash flows.