MUMBAI: IL&FS Group, known for infrastructure development and financial services, is venturing into affordable housing business with three projects in Hyderabad, Chennai and Ahmedabad. Under this venture, the company will be focusing on building affordable residences, economic activity to support job creation and livelihood around the project’s location, and providing services to upgrade lifestyle. "Formalization of housing presents a huge opportunity for private players in India. The government’s decision to grant infrastructure status to affordable housing in the 2017 Union Budget has rejuvenated the interest in this segment in a significant way. The move is allowing developers of these projects get access to institutional funding with better terms.

Source: Economic Times April 14, 2018 03:33 UTC