Ensuring smooth funding flow to the Radius Developers’ on-going and upcoming real estate projects, the Housing Development Finance Corporation (HDFC) and its subsidiary HDFC Capital Advisors, have together invested Rs.1,000 crore in realty developer in its twin residential projects in Mumbai, said sources that out of the two investments, the first transaction involves India‘s largest mortgage lender and non-banking finance company HDFC investing nearly Rs.600 crore in the developer‘s premium project at BKC‘s business district Bandra-Kurla Complex. In the second deal, HDFC Capital has invested about Rs.400 crore in its affordable housing project Anantya in Chembur, a suburb in Mumbai. HDFC has extended a construction finance facility with a tenure of four years to the developer‘s 2.2 million sqft. BKC luxury project, while HDFC Capital has invested the money in the first phase of 6 million sqft. affordable housing project as structured equity through its fund HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), sourcs added.
