Ensuring smooth flow of funds to the Keystone Realtors affordable housing project at Virar on the outskirts of Mumbai, Housing Development Finance Corp (HDFC) has recently decided to infuse Rs.110 crore ensuring scheduled completion of the project. Under the deal, HDFC Capital Affordable Real Estate Fund will acquire a minority stake in the Virar project of Keystone Realtors, which builds residential projects under the Rustomjee brand. There are a few affordable housing projects coming up providing opportunities and this particular project is set to generate healthy returns. HDFC Capital Affordable Real Estate Fund has been scouting for investment opportunities in the affordable housing segment. In 2016, it invested around Rs.350 crore in three projects of Mumbai-based real estate developer Ahuja Constructions. The fund has also invested around Rs.500 crore in a project of the Acme Group.
📅Published on:
16 October 2017
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