The Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH) has approved an investment of Rs 171 crore in Dehradun-based Windlass Developer’s township project, Windlass River Valley.

The funding is expected to help the developer complete the ongoing launched phases in the 35 acre integrated township, accelerate development and expand its real estate scale.

The township project is the largest fully integrated development project of Uttarakhand.

The last-mile construction fund has already started delivering the objective of completing stressed projects and offering possession to troubled homebuyers as indicated by over 1,300 apartments scheduled to be delivered by the end of April 2021.

It is estimated to fund completion of an additional 6,000 apartments over the next one year.

The investment banking firm Ashika Capital was the lead advisor to this transaction.

The large-size project is being developed in phases including Phase-I that started in 2015 and has been delivered and second phase that is closer to handover stage and third phase that will be delivered in three years.

There will be more residential and commercial development phases in the project. The investment by SWAMIH Fund is towards the launched phases and not for the future phases.

Situated on NH-72 in Dehradun, Windlass River Valley will offer premium residences, schools, multispecialty hospitals, shopping mall, five-screen multiplex, hotel and clubhouse.