HDFC Capital Advisors to mentor, invest in affordable housing proptech companies

HDFC Capital Advisors will now mentor, partner and invest in property technology companies that drive innovation and efficiencies within the affordable housing ecosystem. HDFC Capital, through its new initiative – HDFC Affordable Real Estate and Technology Program (HeART) – will provide a platform to real estate technology companies with innovative products aimed at creating efficiencies and lowering costs in each part of the development cycle of a real estate project.
“HDFC’s endeavour is to act as an enabler to the growth of affordable housing in the country. HeART will support businesses which are innovating and building technology solutions to enhance the supply of affordable housing. India has a huge shortage of housing and these incremental steps will help lower the cost of housing for home buyers,” said Deepak Parekh, chairman, HDFC Ltd.
HDFC Capital Advisors, the largest realty private equity fund in India focused on affordable and mid income residential housing, has invested over $1 billion over the past two years with marquee developers across the country in the affordable and mid-income housing space.
“HDFC Capital seeks to address the demand-supply gap in affordable housing in India through a combination of financing, partnerships and technology… We look forward to bringing together multiple stakeholders, including developers, consultants, construction companies, global institutions, venture funds, incubators and accelerators,” said Vipul Roongta, managing director & CEO – HDFC Capital Advisors.
HDFC Capital shall also be partnering with academic institutions and accelerators to create an ecosystem that supports various components in the development affordable housing and thereby make the process more efficient.