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Interlaw’s Indian Firm Advises India’s Ministry of Finance on Housing Development Funding
Luthra and Luthra Law Offices, Interlaw’s partner firm in India, has provided legal counsel to the Indian Ministry of Finance’s Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund, in connection with its investment in non-convertible debentures to facilitate last-mile financing for a large-scale housing development managed by KV Developers Private Limited in the Indian state of Uttar Pradesh.
The SWAMIH Fund has authorized funds totaling 1.9 billion rupees (approximately US$23 million) for the completion of the "KVD Wind Park" project, located in the planned city of Greater Noida, Uttar Pradesh. The project comprises seven residential towers and two commercial towers, with a total saleable floor area of approximately 1 million square feet. Through this financing, the SWAMIH Fund has provided crucial last-mile capital to ensure the successful completion of this large-scale development.
The Luthra and Luthra team advising SWAMIH on this transaction was led by partner Girish Rawat, supported by managing associate Ashneet Chhabra and associate Ranjini Ghosh. Associates Pranav Dwivedi and Devyani Kukreti were instrumental in conducting title and corporate due diligence on the parties involved.
