HDFC Capital Boosts Eldeco's Real Estate Ventures in Tier II-III Cities

HDFC Capital is investing Rs 1,500 crore in Eldeco Group's 18 residential projects across tier II-III cities. This joint platform aims to meet housing demands with a potential revenue of Rs 11,000 crore. The collaboration is part of a strategy to develop affordable, high-quality housing in rapidly growing markets.

HDFC Capital is making a significant investment of Rs 1,500 crore in Eldeco Group's upcoming residential projects spread across tier II-III cities. These 18 developments are expected to generate an estimated revenue of Rs 11,000 crore as part of a real estate development platform formed in partnership with Eldeco Group.

The projects, spread across states like Haryana, Punjab, Himachal Pradesh, and Uttarakhand, will cover a total development area exceeding 10 million square feet. This investment underscores HDFC Capital's commitment to enhancing the housing infrastructure in smaller but rapidly growing towns within a 300-km radius of major cities.

HDFC Capital's strategic focus aligns with India's 'Housing for All' initiative, aiming to bridge the housing gap by promoting the development of sustainable and aspirational homes. The collaboration is set to capitalize on increasing connectivity and infrastructure improvements across these regions, addressing the burgeoning demand for quality housing.

(With inputs from agencies.)