Eldeco, HDFC Capital Invest Rs.350M in Housing Projects

Eldeco, HDFC Capital to Invest Rs 3.50 Bn in Housing Projects

Eldeco Infrastructure and Properties Limited, in collaboration with HDFC Capital Affordable Real Estate Fund-1 (H-CARE 1), is set to infuse Rs 3.50 billion into building housing projects across India. This strategic partnership aims to accelerate the development of affordable and mid-income housing projects in key markets.

The investment will be directed towards acquiring and developing residential projects in various cities, catering to the growing demand for quality housing solutions. Both Eldeco and HDFC Capital bring their expertise and resources to the table, leveraging synergies t..

Eldeco and HDFC Capital invest Rs.37 Million in Housing projects

Eldeco, a renowned real estate developer, has teamed up with HDFC Capital, one of India's leading fund managers, to inject a substantial investment of Rs 350 crore (Rs37 million) into building housing projects. This strategic collaboration aims to accelerate the development of affordable and mid-income housing units across various locations. The infusion of funds will bolster the expansion plans of Eldeco, enabling the company to undertake new projects and expedite the completion of existing ones.

The partnership between Eldeco and HDFC Capital signifies a synergy of expertise and ..

TDB & Remine India to Build E-Waste Plant

The Technology Development Board (TDB) has forged a crucial partnership with startup Remine India to address the pressing issue of e-waste in India. The collaborative effort aims to establish a state-of-the-art commercial plant for recycling lithium-ion batteries and electronic waste (e-waste) in Uttarakhand. According to the Ministry of Science and Technology, this initiative receives substantial financial backing, with TDB allocating Rs 75 million towards the Rs 150 million project.

Highlighting the significance of this endeavor, TDB Secretary Rajesh Kumar Pathak emphasized India's po..

Shriram Finance Sells Housing Finance Business

Shriram Finance has finalised the sale of its entire 85% stake in the housing finance business to Warburg Pincus for a whopping Rs 46.30 billion. This move marks Shriram Finance's exit from the housing finance sector, signalling a strategic shift in its business focus. The deal, valued at over Rs 54 billion including a stake sale and fresh equity infusion, positions Warburg Pincus as a significant player in the Indian housing finance market.

Shriram Finance's decision to divest its housing finance arm aligns with its broader corporate strategy, aimed at optimising its portfolio and conc..

BMC Finds 188 Dilapidated Buildings in Mumbai

The Brihanmumbai Municipal Corporation (BMC) has identified 188 dilapidated buildings across Mumbai, with a significant concentration of 47 in the eastern suburbs alone. This move comes as part of the BMC's ongoing efforts to ensure structural safety and mitigate risks associated with ageing infrastructure in the city.

The identification of these dilapidated structures underscores the pressing need for proactive measures to address potential hazards and safeguard the lives of residents. The BMC's focus on monitoring and assessing the structural integrity of buildings reflects its commit..