The House of Abhinandan Lodha (HoABL) and HDFC Capital Affordable Real Estate Fund – 3, represented by HDFC Capital Advisors Limited, have announced a collaborative venture aimed at investing Rs. 1,500 crore into the development of innovative low-rise projects across India. This partnership is expected to yield a Gross Development Value (GDV) of Rs. 4,500 crores. The joint venture encompasses the creation of new generation low-rise developments in various regions of the country. The company’s ongoing projects span Maharashtra, Goa, Uttar Pradesh, and Himachal Pradesh, encompassing a total of eight distinct locations.
Abhinandan Lodha, Chairman of The House of Abhinandan Lodha, stated, “Our collaboration with HDFC Capital underscores our shared vision of delivering exceptional living experiences. Through our combined expertise and resources, we are poised to redefine the landscape of branded low-rise projects. Our unwavering commitment to architectural excellence, sustainable growth, and top-tier quality align seamlessly with the values upheld by HDFC Capital.”
Vipul Roongta, Managing Director and CEO of HDFC Capital Advisors Limited, emphasized, “We perceive a considerable untapped demand for mid-income low-rise housing in the peripheries of Tier 1 and Tier 2 cities. This demand is propelled by enhanced connectivity owing to the rapid advancement of road, rail, and air infrastructure projects across India. In partnership with HoABL, our platform will continue to focus on collaborating with trusted real estate brands to meet the escalating need for premium low-rise developments offered at affordable prices.”
The House of Abhinandan Lodha (HoABL) is India’s largest branded land developer and a pioneering consumer-tech enterprise spearheading New Generation Land concepts in the country. HoABL, led by Abhinandan Lodha, strives to democratize land ownership and wealth creation through technological innovation. The company has introduced a groundbreaking technology product in India that simplifies the land purchasing process for consumers. With a completely digital sales approach, customers can engage in the purchasing journey from anywhere globally. The unique HoABL app empowers customers to invest in land parcels, navigate their land buying journey, and efficiently manage their portfolios.
HDFC Capital Advisors Limited, a subsidiary of HDFC Bank Ltd, serves as the real estate private equity arm of the HDFC Group. Aligned with the Government of India’s ‘Housing for All’ initiative, HDFC Capital is dedicated to financing sustainable development of affordable and mid-income homes. The firm also champions innovation and technology adoption within the real estate sector by investing in technology companies. HDFC Capital manages HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), HDFC Capital Affordable Real Estate Fund 2 (H-CARE 2), and HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3) Schemes 1 & 2, collectively forming a US$ 3.1 billion platform aimed at advancing affordable and mid-income housing in India.
The transaction received financial advisory support from Mumbai-based Real Estate Investment Bank ‘Trustcap’.