HDFC infuses ₹375-cr in affordable housing project
HDFC Capital Advisors has invested ₹375 crore in realty developer Runwal Group's mid-income and affordable housing project Runwal Avenue in Mumbai's eastern suburb of KanjurMarg. The fund has invested through a mezzanine equity structure. Of the total amount, about ₹210 crore will be utilized to provide a complete exit to Piramal Capital, the existing lender of the project, while the balance will support construction of the project. Runwal Avenue is a greenfield project spread over 6 acres with a total potential of 1.7 million sq ft saleable space development. The project offers apartment configurations of up to 3 bedrooms priced in the range of ₹1 crore to ₹1.5 crore and is slated to be completed in four years from now.
📅Published on:
19 February 2021
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