HDFC’s arm raises $1.88 billion funds for affordable housing
Real Estate

HDFC’s arm raises $1.88 billion funds for affordable housing

HDFC Capital, a wholly-owned subsidiary of HDFC Limited, had successfully achieved the initial close of its third fund of $1.88 billion for affordable housing funding.

HDFC Capital aims to finance the development of one million affordable homes in India via innovation, financing, partnerships, and technology, focusing on sustainability.

The company is in discussion with the leading global investors to achieve its objective and raise additional funds to be invested in affordable housing across India.

The HDFC Capital Affordable Real Estate Fund-3 (H-CARE-3) is the largest fund raised to invest in the residential sector in India, with investors committing more than $1.22 billion in the first closure. It combined with the potential reinvestments by the fundraises an estimated total of $1.88 billion.

According to a statement, the primary investor in H-CARE-3 is a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The fund will provide long-term flexibility across affordable and mid-income housing projects, including early-stage funding.

It added that H-CARE-3 would also invest in technology companies engaged in the affordable housing sectors.

Chairman of HDFC Capital, Deepak Parekh, said that the company with the support from global investors and leading developers would ensure many more Indians become homeowners.

Managing Director of HDFC Capital, Vipul Roongta, said that the company aims to finance the development of the affordable housing ecosystem across India and provide a seamless platform for the stakeholders such as global investors, developers and vendors to access financing and technology innovations.

Image Source

Also read: Union Bank of India takes over NRDA's property after loan default

Also read: CREDAI demands to have a relook at affordable housing

HDFC Capital, a wholly-owned subsidiary of HDFC Limited, had successfully achieved the initial close of its third fund of $1.88 billion for affordable housing funding. HDFC Capital aims to finance the development of one million affordable homes in India via innovation, financing, partnerships, and technology, focusing on sustainability. The company is in discussion with the leading global investors to achieve its objective and raise additional funds to be invested in affordable housing across India. The HDFC Capital Affordable Real Estate Fund-3 (H-CARE-3) is the largest fund raised to invest in the residential sector in India, with investors committing more than $1.22 billion in the first closure. It combined with the potential reinvestments by the fundraises an estimated total of $1.88 billion. According to a statement, the primary investor in H-CARE-3 is a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The fund will provide long-term flexibility across affordable and mid-income housing projects, including early-stage funding. It added that H-CARE-3 would also invest in technology companies engaged in the affordable housing sectors. Chairman of HDFC Capital, Deepak Parekh, said that the company with the support from global investors and leading developers would ensure many more Indians become homeowners. Managing Director of HDFC Capital, Vipul Roongta, said that the company aims to finance the development of the affordable housing ecosystem across India and provide a seamless platform for the stakeholders such as global investors, developers and vendors to access financing and technology innovations. Image Source Also read: Union Bank of India takes over NRDA's property after loan default Also read: CREDAI demands to have a relook at affordable housing

Next Story
Technology

Building Faster, Smarter, and Greener!

Backed by ULCCS’s century-old legacy, U-Sphere combines technology, modular design and sustainable practices to deliver faster and more efficient projects. In an interaction with CW, Rohit Prabhakar, Director - Business Development, shares how the company’s integrated model of ‘Speed-Build’, ‘Smart-Build’ and ‘Sustain-Build’ is redefining construction efficiency, quality and environmental responsibility in India.U-Sphere positions itself at the intersection of speed, sustainability and smart design. How does this translate into measurable efficiency on the ground?At U..

Next Story
Infrastructure Transport

Smart Roads, Smarter India

India’s infrastructure boom is not only about laying more kilometres of highways – it’s about building them smarter, safer and more sustainably. From drones mapping fragile Himalayan slopes to 3D machine-controlled graders reducing human error, technology is steadily reshaping the way projects are planned and executed. Yet, the journey towards digitisation remains complex, demanding not just capital but also coordination, training and vision.Until recently, engineers largely depended on Survey of India toposheets and traditional survey methods like total stations or DGPS to prepare detai..

Next Story
Real Estate

What Does DCPR 2034 Mean?

The Maharashtra government has eased approval norms for high-rise buildings under DCPR 2034, enabling the municipal commissioner to sanction projects up to 180 m on large plots. This change is expected to streamline approvals, reduce procedural delays and accelerate redevelopment, drawing reactions from developers, planners and industry experts about its implications for Mumbai’s vertical growth.Under the revised DCPR 2034 rules, buildings on plots of 2,000 sq m or more can now be approved up to 180 m by the municipal commissioner, provided structural and geotechnical reports are certified b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?