Home Urban Infrastructure News Realty News Prestige ties up with HDFC to foray into affordable housing

    Prestige ties up with HDFC to foray into affordable housing

    affordable housing

    Prestige Estates forays into the affordable housing category by patterning with HDFC bank’s investment arm, HDFC Capital Advisors, to establish a Rs 2,500 crore real estate development platform targeted at developing affordable and mid-income housing projects across the country.

    Bengaluru-based Prestige group, well-known for their condominiums and luxury apartments, has announced that it has entered into a strategic partnership with HDFC Capital Advisors for furthering its business in the mid-income/affordable housing sector. “This dedicated real estate platform shall have a capital to the tune of Rs 2,500 crore, which shall be a blend of equity and debt,” Prestige said in a statement. The platform would also enable the group to develop projects worth Rs 10,000 crore.

    “Affordable housing has become the new mantra in the country and also a growth driver for the real estate sector. Our association with Prestige group is to develop affordable homes and cater the largely unmet demands in the mid-income segment.” HDFC MD Renu Karnad said. Prestige group CEO Venkat K Narayana said:

    “After having successfully aligned our business along streamlined verticals, viz residential, commercial, retail and hospitality, we have come across exceptional proposals and remarkable opportunities.”



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