Affordable housing is attracting large-scale investments from developers as well as private equity funds. While realty majors like Ansals and Omaxe are planning low-budget residential projects in smaller towns and cities across the country, private equity players are planning huge investments in this segment.
Delhi-based based Omaxe Ltd
has formed a company, National Affordable Housing Infrastructure Ltd, which will invest Rs 80,000 crore to develop 100,000 affordable homes across the country. The company is planning to offer these houses, to be developed in the next five years, for Rs 2.5-20 lakh per flat. Fire Capital Fund (FCF) is also investing over Rs 600 crore in seven affordable housing projects in
Indore, Bangalore, Chennai, Nagpur, Dehradun, Ahmedabad and Jaipur
. "From affordable housing projects, we expect a return of 20-25 per cent, which is the same as in upper-end investments," said Mr. Om Chaudhry, CEO, FCF.16 June 2008 Business Standard
Posts
