These developers include Godrej Properties, Mahindra Lifespace Developers, Signature Global, Radius Developers, Rustomjee Group and Acme Group. "Our endeavour is to participate in the huge opportunity of affordable housing, which is a sunrise segment right now and for many years to come given the housing shortage in the country. The investments will be made through funds raised by HDFC Capital Advisors, a wholly owned subsidiary of India's top mortgage lender.In the largest ever fundraising for affordable and mid-income housing in India, HDFC Capital Advisors recently raised $550 million under the initial close of its second affordable housing fund, HDFC Capital Affordable Real Estate Fund - 2 (H-CARE-2).This fund, combined with HDFC Capital Affordable Real Estate Fund - 1(HCARE-1) raised in 2016, creates the more than $1 billion platform to invest in affordable and mid-income residential projects in India's top 15 cities. "We currently also have 5-6 deals in the pipeline for $200 million and they are likely to be concluded by March 2018, taking our total commitment from this platform to over half a billion. Apart from financing these projects, HDFC Capital will also offer support in terms of product configuration, construction efficiency, design, branding and sales process that would help in bringing greater efficiency in a segment that has traditionally not been very enticing for developers.

Source: Economic Times January 04, 2018 01:52 UTC