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HDFC Capital, Mumbai realtor Rustomjee form affordable housing platform

On Monday, Rustomjee announced that it has tied up with Ikea to furnish its 1,200 houses in Global City, which has a debt funding from Piramal Enterprises

Boman Irani, CMD of property developer Rustomjee
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Boman Irani, CMD of property developer Rustomjee

Raghavendra Kamath Mumbai
HDFC Capital Advisors, the real estate-focused fund management arm of HDFC, and Mumbai-based property developer Rustomjee have formed a joint platform to develop affordable housing projects.
 
It is the third such platform for HDFC Capital, which has already signed deals with Mahindra Lifespaces, the real estate arm of Mahindra group, and Bengaluru-based Prestige Estates Projects. “HDFC Capital has given equity for our Global City project in Virar. We will do other projects with them under this platform,” said Boman Irani, chairman and managing director of Rustomjee.
 
He said they are evaluating three to four other projects which will