Shapoorji Pallonji Grp to build 20k affordable homes

Invests RS 1,250 cr with partners -- Standard Chartered, IFC and ADB

The Shapoorji Pallonji Group has entered into a partnership with Standard Chartered Private Equity, World Bank Group member IFC and the Asian Development Bank for building affordable housing projects across India. The venture would invest $200 million (about Rs 1,250 crore) in the affordable space. Currently, the Group is developing one of Asia’s largest affordable housing projects in Rajarhat, Kolkata with 20,000 apartments of which nearly 7,500 homes have been completed, according to a statement by the company. This is one of the largest capital inflows in the affordable ...