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

29 Apr 2024 CW Team

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 to maximise the impact of the investment.

Eldeco, a renowned real estate developer with a strong presence in North India, has a track record of delivering high-quality residential projects that cater to diverse customer needs. On the other hand, HDFC Capital brings deep insights and financial backing, specialising in investing in affordable and mid-income housing projects.

The collaboration between Eldeco and HDFC Capital underscores their shared commitment to addressing the housing needs of India's growing urban population. By pooling resources and expertise, the partners aim to create sustainable and inclusive housing developments that enhance the quality of life for residents.

The Rs 3.50 billion investment signifies a significant step towards bridging the gap in affordable housing supply and meeting the aspirations of millions of homebuyers. It also reflects the confidence of investors in the long-term potential of the Indian real estate market, especially in the affordable housing segment.

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