Omaxe Group, one of India’s well-established real estate developers, has marked a significant achievement with the substantial completion of two major projects and the full repayment of the SWAMIH-funded credit facilities tied to them. The milestone covers The Lake in New Chandigarh and the Omaxe Shiva, Shiva 2 and Shiva 3 developments in Prayagraj.
The Lake, New Chandigarh, is a large premium residential project offering a saleable area of 28,00,205 sq ft and comprising 1,402 units. In Prayagraj, the Shiva series of developments collectively provide 304 independent floors spread across 5,60,680 sq ft of saleable space. Both locations had received last-mile funding under the Special Window for Affordable and Mid-Income Housing (SWAMIH), with sanctioned limits of ₹168.80 crore for The Lake and ₹60.40 crore for the Prayagraj projects.
Despite the sanctioned amount, Omaxe opted to use only partial disbursements, signalling the company’s sharp focus on efficient capital deployment, strong internal cash flow generation and steady execution across all phases of development. With construction now substantially complete, the Group has fully repaid the entire SWAMIH facility used for both projects, relying solely on internal project revenues. The completion and repayment together highlight Omaxe’s operational strength, healthy sales momentum and its commitment to responsible development.
The Group expressed appreciation for the support received from the SWAMIH Investment Fund, acknowledging its role in accelerating last-mile progress and ensuring smoother timelines for homebuyers. Omaxe reiterated that the association has been crucial in pushing both developments to completion and praised the partnership for enabling faster execution during critical phases.
According to the company, the full repayment through internal cash flows reflects Omaxe’s strong liquidity position, prudent financial planning and the robust performance of the projects. With this milestone, Omaxe has further strengthened its balance sheet and reinforced its long-term growth strategy, which focuses on reducing leverage, improving resilience and delivering consistent value to stakeholders.
