HDFC Capital and Eldeco Launch ₹1,500 Cr Residential Platform for Tier-II/III Cities

HDFC Capital Advisors, the real estate private equity arm of the HDFC Group, has partnered with Delhi-based Eldeco Group to launch a ₹1,500 crore development platform focused on residential projects across India’s Tier-II and Tier-III cities.

The collaboration aims to develop 18 residential projects with a combined development potential of over 10 million sq. ft., targeting an estimated revenue of ₹11,000 crore. The platform is aligned with HDFC Capital’s broader strategy to promote affordable and mid-income housing by providing long-term capital and ecosystem support.

Projects will be located in high-growth non-metro cities such as Panipat and Sonipat (Haryana), Rudrapur and Rishikesh (Uttarakhand), Ludhiana (Punjab), and Kasauli (Himachal Pradesh). Eldeco Group, known for its expertise in residential and township development, will bring strong local knowledge and execution capabilities to the venture.

“This investment underlines our belief in the growth potential of emerging urban clusters,” said Vipul Roongta, Managing Director and CEO of HDFC Capital. “We are bullish on the demand coming from Tier 2 and Tier 3 towns, especially those within a 300-km radius of major metropolitan areas.”

The initiative represents a significant step in HDFC Capital’s ongoing efforts to enhance housing supply in aspirational towns, furthering the vision of ‘Housing for All’ through the infusion of private capital.

News by Rahul Yelligetti.