Curation Team
NEW DELHI: HDFC Capital Advisors, the real estate private equity arm of HDFC Group, has created a ₹1,500 crore platform in partnership with Eldeco Infrastructure & Properties, part of Eldeco Group, to develop 18 residential projects across multiple towns.
The projects will have total development area of more than 10 million sq ft and combined revenue potential of about ₹11,000 crore.
Vipul Roongta, managing director & CEO, HDFC Capital, said, “We are bullish on the potential of tier 2 and tier 3 towns situated within a 300-kilometer radius of major metropolitan areas. This collaboration is aimed at leveraging the growing infrastructure development in these regions which is bringing these towns closer to the metro cities and employment hubs.”
Pankaj Bajaj, chairman & managing director, Eldeco Group, said, “This investment allows us to accelerate our expansion into high-growth markets that are increasingly being connected to India’s economic centers. There is a huge unmet demand for quality housing in tier 2 & 3 cities across India. There is just not enough supply.”
The projects will be developed in Panipat (Haryana), Sonipat (Haryana), Rudrapur (Uttarakhand), Ludhiana (Punjab), Kasauli (Himachal Pradesh) and Rishikesh (Uttarakhand).
