IFC, EAF to invest Rs 556 cr in Puravankara’s housing project

21 Dec 2020 Editorial Team

Emerging Asia Fund (EAF) and the International Finance Corporation (IFC) will invest $76 million (approximately Rs 556 crore) in provident, the residential project of the Puravankara’s affordable housing arm. On Thursday, the Bengaluru-based developer announced that the investment would cover four housing projects in Bengaluru and Kochi.

With a saleable area of 4.5 million sq. ft., the two projects in Bangalore and Kochi will see the development of around 4,000 housing units in the next five to seven years. The other two projects will be announced in 2021.

EAF and IFC will invest in the Special Purpose Vehicles (SPV) set up by Puravankara. IFC will invest around Rs 240 crore (around $33 million), and the investment will be matched by the EAF, bringing the total up to $66 million. The rest of the amount (approximately $10 million) will be taken as a loan from the IFC.

Infrastructure Urban

13 Oct 2025

Jharkhand Forms Teams to Modernise Urban Infrastructure

The Jharkhand Urban Development Department has constituted multiple expert teams to plan, assess, and modernise urban infrastructure across the state’s cities and towns, an official said on Thursday. The initiative aligns with Chief Minister Hemant Soren’s vision to position Jharkhand among India’s leading states in the field of advanced and sustainable urban development. The teams have been tasked with identifying existing infrastructure gaps and proposing new projects to promote stable and long-term growth. According to Sunil Kumar, Principal Secretary of the Urban Development and Ho..

Kerala CM Seeks Rs 22 Billion NDRF Aid, AIIMS Nod from PM

Kerala Chief Minister Pinarayi Vijayan met Prime Minister Narendra Modi in New Delhi on Friday, seeking urgent financial and policy support for the state. The Chief Minister requested the release of the Rs 22.21 billion National Disaster Response Fund (NDRF) grant for Wayanad landslide reconstruction and pressed for immediate approval to establish an AIIMS at Kinaloor, Kozhikode. “Called on the Hon’ble Prime Minister Narendra Modi Ji and requested the urgent release of the full Rs 22.21 billion NDRF grant for Wayanad landslide reconstruction. Also urged immediate approval for establishing..

Madurai Corporation Proposes Rs 1,400 Million Plan to Save Vaigai River

In a renewed effort to tackle pollution, the Madurai Corporation has submitted Rs 1,400 million proposal to the state government to upgrade the city’s drainage network and prevent untreated sewage from entering the Vaigai River. The proposal follows growing public concern over the river’s deteriorating condition despite previous mitigation efforts. The Vaigai flows for nearly 12 km within Madurai city limits, with sections obstructed by invasive plants, garbage, and untreated sewage. While multiple inlets contribute to contamination, the Panthalkudi canal in Goripalayam has been identifi..