AFFORDABLE HOUSING IN PARTNERSHIP
HDFC Capital bets big on affordable housing, to invest $2 billion by 2025 end
The world's largest affordable housing platform that counts Abu Dhabi Investment Authority (ADIA) as its key investor is in the process of achieving its medium-term goal of financing 1 million affordable homes in India through existing platforms set up with leading developers.
Indiabulls Housing Finance rebrands itself, name changed to Sammaan Capital
Indiabulls Housing Finance has rebranded itself as Sammaan Capital after receiving the necessary approvals from regulatory authorities. This includes the Certificate of Incorporation from the Registrar of Companies and the Certificate of Registration as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India.
“EORS is going to be a game changer”: Uptownie’s Co-Founder Shivani Agarwal on the fashion brand’s partnership with Myntra
Myntra, a popular e-commerce platform, offers a vast selection of women's western wear, including trendy tops. Uptownie, a well-loved brand on Myntra, provides affordable and trendy fashion for Indian consumers. The ongoing End Of Reason Sale on Myntra presents great deals on Uptownie's viral products.
EQT's growth fund to pursue deals of $50m-250m in India
EQT's $1.6 billion BPEA EQT Mid-Market Growth Partnership (MMG Fund) targets deals of $50 million-250 million in India, focusing on controlled investments in tech services, healthcare, and the financial sector, with a preference for single specialty hospitals, pharma, and diagnostics.
Brookfield plans $10 bn investment in Indian realty, double portfolio in 3-5 years
Brookfield--one of the largest office owners and operators in India—currently has a portfolio spanning more than 51 million sq ft across seven key Indian cities. The firm currently has total AUM of more than $25 billion across infrastructure, renewable power and transition, real estate, and private equity sectors in India.
Puravankara arm Provident Housing raises Rs 1,150 crore from HDFC Capital
Provident Housing secures Rs 1,150 crore from HDFC Capital Advisors for expansion. The collaboration aims to add 6.2 million sq ft, with a combined portfolio value of Rs 17,100 crores, focusing on delivering quality homes across various cities.
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Excessively high rents are a major burden for immigrants in US cities
High rents in the U.S. disproportionately affect immigrants, hindering their access to education and healthcare. Nashville faces rent challenges due to gentrification and lack of affordable housing. Immigrants play a crucial role in the economy, emphasizing the need for housing support.
'Modi Ki Guarantee' is adulterated with 'power of lies': Mallikarjun Kharge slams govt over housing scheme
Congress president Mallikarjun Kharge on Monday alleged that the government's promise of providing houses to all has turned out to be a "scam" and claimed that 'Modi Ki Guarantee' is adulterated with the "power of lies". Kharge said that Prime Minister Narendra Modi on July 17, 2020, promised the country that by 2022 every Indian would have a roof over his head.
India-US relations: Is everything fine, or has a lot changed since Nijjar murder case?
India-US relations face turbulence due to an alleged plot to kill a US citizen. Questions arise about India's partnership, defence cooperation, stance in a Taiwan contingency, Russia's influence, and potential troubles on Capitol Hill. Progress is seen in the drone deal, cancer moonshot, and joint space mission, demonstrating US commitment to India.
Signature Global to invest Rs 1,000-1,200 cr per year to buy land for housing projects
Realty firm Signature Global plans to invest Rs 1,000-1200 crore annually for land acquisition and focus on the Gurugram property market. They expect strong demand to continue and aim for sales bookings of Rs 7,200 crore this fiscal.
Jio-bp to set up EV charging infra at properties of House of Hiranandani
Jio-bp, the JV of Reliance and bp, partners with House of Hiranandani to set up EV charging infrastructure in Mumbai, Hyderabad, Chennai, Bengaluru, starting with Hiranandani Estate and Hiranandani Meadows in Thane. Offering world-class EV charging facilities at affordable prices.
Credit Fair ties up with Jakson Solar to provide affordable finance for solar equipment
The entity has entered into a partnership with Jakson Solar to offer affordable solar equipment financing options to individuals, MSMEs, trust institutions, and housing societies to install clean energy systems, as per the statement.
Govt working on scheme to help middle-class buy homes: Housing & Urban Affairs Secy
The government is reportedly working on a scheme to help the middle class purchase or construct their own homes. Manoj Joshi, Housing and Urban Affairs Secretary, announced this at the inauguration of the National Convention for the real estate association NAREDCO. Joshi emphasized the critical role of real estate in India becoming a $30 trillion economy by 2047 and stressed the need to promote affordable housing. The government is focusing on urban infrastructure and planning reforms, and Finance Minister Nirmala Sitharaman recently mentioned launching a scheme to assist the middle class in acquiring homes.
Budget expectations to address the advancements in the built environment sector in India
With a projected population of 1.668 billion by 2050, coupled with ambitious climate goals, the built environment sector stands at a pivotal crossroads.
India-US relationship is very important, significant not only for them but for global good, says Amb Taranjit Sandhu
Outgoing Indian Ambassador to the US Taranjit Singh Sandhu emphasized the importance of the US-India relationship, stating that it is significant for both countries and the global community. Sandhu urged Indian Americans to keep their children connected to India and encourage them to travel to the country, highlighting the potential career opportunities that knowing India well can offer.
Sunteck Realty, IFC set up joint platform to invest Rs 750 cr for affordable housing projects
Sunteck Realty and IFC have formed a joint platform to invest up to Rs 750 crore in developing affordable housing projects in Mumbai Metropolitan Region (MMR). IFC, a member of the World Bank, will invest up to Rs 330 crore, while the remaining investment will be by Sunteck Realty.
Shriram Housing Finance partners with IFC to promote green affordable housing finance in India
Shriram Housing Finance Limited (SHFL) and International Finance Corporation (IFC), a member of the World Bank, have entered into a partnership to launch an affordable green housing lending product for self-constructed homes. IFC will provide training and capacity building for SHFL teams on the principles and applications of the EDGE software, standards, and certification system
Centre doubles EWS income slab for affordable housing to Rs 6 lakh in Mumbai Metropolitan Region
The central government has doubled the eligibility for affordable housing to Rs 6 lakh under the Pradhan Mantri Awas Yojana - Urban and affordable housing in partnership projects. This aims to allow a broader range of people access to affordable housing provision by the Maharashtra Housing and Area Development Authority.
What is the deal with India's affordable housing market?
With the pool of affordable homes shrinking rapidly, mid-segment buyers in metros like Hyderabad, Bengaluru, Pune and Chennai are being pushed to the fringes. As houses in the Rs 50 lakh-60 lakh bracket are at least 30-40 km away from city centres, the middle class is left with two choices: commute for hours both ways or pay a fortune towards rent to stay in the city.
TVS Emerald and HDFC Capital create a Rs.1000 crore platform for plotted development projects
TVS Emerald, an associate of TVS Motor, engaged in the business of developing sustainable residential projects and self-sustaining communities with presence in Chennai and Bengaluru. It has delivered about 2.4 million sq.ft of residential developments in Chennai and has over 6.25 million sq.ft of under development projects.
HDFC Capital invests Rs 1,450 crore in Kalpataru’s projects, land parcels' portfolio
ET's email queries to HDFC Capital and Kalpataru remained unanswered at press time Tuesday. Kalptaru has a presence in nine cities and has so far delivered more than 24.1 million sq ft in 110 projects across residential, commercial and retail segments.
Affordable housing gets further boost with higher PMAY, infrastructure allocation
Finance Minister Nirmala Sitharaman has announced a 66% increase in the outlay for PMAY scheme to over Rs 79,000 crore and this is expected to support development of more low-income and affordable housing across the country, especially in the peripheral areas of cities.
HDFC Capital raises $376 million more, creates $3.1 billion affordable housing platform
H-CARE 3’s second scheme combined with the first scheme raised less than one year ago has created a total fund corpus of $2.2 billion, making H-CARE 3 one of the largest funds raised to invest in the residential real estate sector in India.
HDFC gets $400-million loan from IFC for homes, affordable and green
Additionally, the lending framework will set rigorous standards for green buildings, allowing HDFC to boost a quality green housing pipeline while channelling funds to this segment. IFC's financing package is also aimed at enabling HDFC to on-lend to people ensuring they can afford such housing.
IFC extends $400 million to HDFC to support affordable green housing in India
IFC’s funding will help HDFC especially focus on its green affordable housing portfolio, with 75% or $300 million of the proceeds earmarked for this sector.
HDFC Capital to invest in 15 startups to drive affordable housing innovation, efficiency
HDFC Capital has selected these 15 startups through HDFC Tech innovators programme in partnership with the government of India, other leading global and Indian funds, academia, and industry associations to identify the most innovative proptech companies.
HDFC Capital to invest in 15 start-ups to drive affordable housing innovation, efficiency
In September, it had raised over Rs 500 crore as the first close of its property technology fund through global investors to support start-ups that drive innovation and efficiencies within the affordable housing ecosystem.
Eldeco group creates Rs 350 crore fund with HDFC capital for real estate developments in tier 2 cities, holiday destinations
In August 2021, Eldeco Group had partnered with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), another fund managed by HDFC Capital, to set up a Rs 150 crore platform for the development of low-rise and plotted development projects. Currently, Eldeco has identified four residential developments in the Tier 2 cities, Himachal Pradesh and Uttarakhand for an initial investment of Rs 175 crores.
Over 60,000 houses approved for construction under Pradhan Mantri Awas Yojana (Urban)
Secretary, MoHUA also discussed the issues pertaining to grounding and construction of houses in different States under different verticals of PMAY(U). He reviewed the pace of completion of houses in the States and directed the officials to expedite the process and meanwhile also evaluate the beneficiary allotment and completion of Affordable Housing in Partnership (AHP) projects in their respective areas.
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