• 12th Floor, Marathon Futurex, N.M.Joshi Marg, Lower Parel, Mumbai 400013.
  • Call Us Now
    +91 22 69112800

  • Send Mail Us

SWAMIH Investment Fund I - Gem Paradise

Andheri project finished in less than 12 months; repays entire SWAMIH capital

Project Overview

Gem Paradise is a residential society development project with total carpet area of 0.56L Sq ft and 67 units

Project being developed by Vayuputra Builders & Infrastructures Pvt Ltd.

The Location

Project is located in D N Nagar, Andheri (West) with excellent connectivity by road, rail and metro


Project was re-launched in 2017 after removal of previous Developer in 2014.

Due to long history of litigation along with NBFC crisis and it being 1st project of Developer, funding became a challenge.

Overall, the redevelopment was delayed by about 10 years.

SWAMIH Investment

  • SWAMIH Fund invested in the project in Mar 2021 with a target to complete the project.
  • Of the committed investment of Rs 36 Cr, SWAMIH Fund invested Rs 12.0 Cr.
  • As on Jul 2022, VBIPL repaid Rs 12.0 Cr along with 12% XIRR.


  • Project completed within ~1. 5 years of investment despite losing 3-4 months in covid lockdowns.
  • Monitoring to ensure no diversion of funds – all inflows are used for project completion
  • Contractor/vendors dues cleared. Salaries paid to the employees
  • 28 new units sold; ~44 Cr collected
  • 67 homebuyers + society members to finally get their homes