HDFC Capital to invest Rs.150-Cr in Eldeco's affordable housing projects in NCR

Delhi-based real estate firm Eldeco Infrastructure and Properties Ltd and HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), a fund managed by HDFC Capital Advisors Ltd, have set up a INR 150 crore platform focused on the development of low-rise, plotted development projects in Tier 2 cities in National Capital Region (NCR). The proposed developments will be undertaken by a special purpose vehicle, Eldeco Greens Infrastructure Private Ltd. Currently, two projects have been identified in Panipat and Faridabad with a combined saleable area of approximately 1.5 million sq ft and sales revenue of approximately INR 500 crore.