Advertisement
Omaxe Group has completed the repayment of about INR 80 crore, including interest, to the SWAMIH Fund for two of its residential projects in New Chandigarh and Prayagraj. The fund had sanctioned INR 168.80 crore for The Lake project and INR 60.40 crore for the Omaxe Shiva developments, but the company drew only INR 70 crore. The repayment was made entirely through internal cash flows. Both projects are progressing, with 1,402 units planned in New Chandigarh and 304 independent-floor units in Prayagraj. The company said the funding support helped advance project completion.
Omaxe Group has repaid around INR 80 crore, including interest, to the government-backed SWAMIH Fund for two of its residential projects located in New Chandigarh and Prayagraj. The repayment was confirmed by the company earlier this week through an official statement. Advertisement
The SWAMIH Fund had sanctioned INR 168.80 crore for the New Chandigarh project, known as The Lake, and INR 60.40 crore for the Omaxe Shiva, Shiva 2 and Shiva 3 projects in Prayagraj. Omaxe, however, utilised only INR 70 crore from the total sanctioned amount. The company stated that the full repayment of approximately INR 80 crore, covering both principal and interest, was made using internal cash flows.
The Lake project in New Chandigarh is a group-housing development comprising 1,402 units. In Prayagraj, the three Shiva projects together consist of 304 units designed as independent floors. Both developments had received last-mile funding support under the SWAMIH framework to ensure timely progress.
Mohit Goel, Managing Director of Omaxe Ltd, said that the association with SWAMIH had played an important role in moving these projects toward completion. He also noted that the repayment reflects the company's focus on financial discipline, delivery timelines, and responsible development.
Omaxe is among the larger real estate players in India and has delivered about 140.17 million sq ft across 31 cities in eight states, including Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Delhi, Uttarakhand, and Himachal Pradesh. The group continues to work across residential, commercial, and township projects in these regions.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
