HDFC Capital and Eldeco plan Rs 11000 crore housing in small cities

HDFC Capital and Eldeco plan Rs 11000 crore housing in small cities
Published on

HDFC Capital and Eldeco partner to build 18 residential projects in tier II-III towns, aiming for Rs 11,000 crore revenue with a Rs 1,500 crore investment

The real estate private equity branch of HDFC Group, HDFC Capital Advisors Ltd, made a Rs 1,500 crore investment with Eldeco Group. HDFC Capital Advisors Ltd will employ Rs 1,500 crore to support 18 residential projects in tier II and III cities with a potential revenue of Rs 11,000 crore. The purpose of this joint venture is to develop additional housing facilities in Panipat, Rudrapur, Ludhiana, and other areas.

The developments will utilize more than 10 million square feet throughout the expansion areas of Haryana, Punjab, Himachal Pradesh, and Uttarakhand. According to HDFC Capital's Managing Director Vipul Roongta, the firm invests in developing sustainable aspirational housing for India's expanding middle-class market. Infrastructure development has resulted in smaller towns establishing closer connections between themselves, metropolitan cities, and employment centres.

Platform to Address Growing Demand for Quality Housing

EIPL operates as the platform under Eldeco Infrastructure & Properties Ltd, which belongs to Eldeco Group. Through this collaboration, the organization plans to address the housing supply shortage affecting rapidly expanding smaller urban areas. Pankaj Bajaj, Chairman of Eldeco Group, seeks to develop strategic high-growth markets that currently lack suitable housing options according to customer demands through this investment.

The new residential developments from Eldeco Group will appear in Sonipat and Panipat in Haryana, Ludhiana in Punjab, Rudrapur and Rishikesh in Uttarakhand, and Kasauli in Himachal Pradesh. Essential residential growth arises from elevated transportation services and regional economic transformation across these regions. These urban areas will benefit from new contemporary residential communities to serve the homebuyer population in their region.

HDFC Capital Expands Affordable Housing Investments

The HDFC Capital branch of HDFC Bank directs four funds that operate as Sebi-registered Category II Alternative Investment Funds. This platform, which amounts to USD 4.2 billion, focuses on affordable housing and middle-income residential development in India. The alliance between Eldeco and the company enhances their support for the government's 'Housing for All' program.

HDFC Capital aims to stimulate innovation and technological advancements in the real estate sector while receiving backing from this investment. HDFC Capital again implemented its residential development strategy through Rs 1,300 crore in funding from Total Environment, which enabled it to create Rs 10,000 crore worth of housing projects in Bengaluru the previous month.

Eldeco Group established a track record of developing more than 200 projects throughout India, which generated a combined space totalling 60 million square feet. As a result of its long track record in township construction, the organization has all the necessary skills for implementing its upcoming projects under this new platform.

ICO Desk | Crypto News
icodesk.io