The affordable housing segment was among the first in terms of growth in the real estate sector.

Dua Associates advised and assisted SBICAP Ventures Limited as investment manager of SWAMIH Investment Fund I, in its financing of Nav Grih Developers Private Limited for the gated real estate project Sikka Krissh Greens located in Meerut, Uttar Pradesh.

Dua Associates’ team for due diligence and corporate documentation was led by

Prateek Bedi, Partner, Nityashjit Kaur, Senior Partner, Varun Mathur, Senior Partner, Diya Kapoor, Partner, Rishika Aggarwal, Partner.

The firm’s title verification team was led by Angad Verma, Partner, Siddharth Chaudhary, Senior Partner, Tusi Kumar, Senior Partner, Kapil Saxena, Senior Partner.

The last mile financing, which includes Rs 75 crore for construction and Rs 14.5 crore as a contingency fund, will lead to the time-limited delivery of homes to 450 home buyers. The total cost of the project is Rs 145 crore.

The Investment Manager of the Fund is SBICAP Ventures Ltd., an asset management company which is a wholly owned subsidiary of SBI Capital Markets Ltd, itself a wholly owned subsidiary of State Bank of India. The SWAMIH Investment Fund I is a special window created to provide senior debt financing for the completion of gated brownfields, RERA-registered residential projects in affordable and middle-income housing projects that are net positive.

About Dua Associates: Dua Associates is a leading law firm in India with a thirty-five year track record of providing critical legal solutions to clients including Fortune 500 companies, financial institutions, governments and SMEs. The firm is widely recognized for the depth of its experienced legal talents and the significant experience of its more than 250 professionals, including 75 partners.

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