The investment will result in a Gross Development Value (GDV) of Rs 4500 crores
The House of Abhinandhan Lodha (HoABL) and HDFC Capital Affordable Real Estate Fund – 3 (acting through its investment manager HDFC Capital Advisors Limited), have come together to create a Joint Venture Platform entailing project investments of Rs 1500 crore towards the development of new generation low-rise development projects in India.
The investment will result in a Gross Development Value (GDV) of Rs 4500 crores. The JV entails the development of new generation low-rise projects all over India. The company is currently executing projects in Maharashtra, Goa, UP and Himachal Pradesh spread across eight different locations.
On this milestone partnership, Mr Abhinandan Lodha , Chairman, The House of Abhinandhan Lodha said, "The joint venture with HDFC Capital is a testament to our shared vision of creating exceptional living experiences. By combining our expertise and resources, we are set to redefine the landscape of branded low-rise projects. Our commitment to architectural brilliance, sustainable development, and uncompromising quality aligns perfectly with the values that HDFC Capital represents.
"Together with HDFC Capital, we are poised to unlock unprecedented possibilities, fostering sustainable growth and prosperity in the realm of branded low-rise projects."
Mr Vipul Roongta, MD & CEO, HDFC Capital Advisors Limited, said, "We believe there is a significant unmet demand for mid-income low-rise housing in the peripheral areas of Tier 1 cities and Tier 2 cities, driven by improved connectivity on the back of rapid development of road, rail and air infrastructure projects across India. Through our platform with HoABL, we will continue our focus on partnering with trusted real estate brands to meet the increasing demand for high-quality low-rise developments at affordable prices."
HoABL is born out of a vision to democratise land to create intergenerational wealth. The brand is transforming land ownership in India by making it easy, secure, and liquid, while ensuring that it becomes a critical part of people’s investment portfolio with a transparent process.
HoABL has built a first-of-its-kind technology product in India that will simplify the process of land buying for customers. With fully digital sales, the entire consumer journey is location agnostic, making it possible to buy land from anywhere in the world. This transformation is giving customers the ability to invest in land parcels that the brand has to offer, chart their land buying journey from start to finish and manage their portfolio effortlessly.
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