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Eldeco, HDFC Capital set up affordable housing platform


Eldeco Infrastructure and Properties Limited (EIPL), a part of the Eldeco Group, has partnered with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), a fund managed by HDFC Capital Advisors Limited.
According to a press release, the two have collaborated to form a platform focused on the development of low-rise, plotted development projects in Tier-2 cities in the NCR while ensuring quality and timely delivery of finished units.
The proposed developments, said the release, will be undertaken by a special purpose vehicle, ‘Eldeco Greens Infrastructure Private Limited’, set up with an initial investment of Rs. 150 crore. Currently, two projects have been identified in Panipat and Faridabad with combined saleable area of approximately 1.5 million square feet and sales revenue of approximately Rs. 500 crore, added the release.
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