HDFC Capital Advisors on Thursday announced the launch of a new initiative that seeks to mentor, partner and invest in real estate technology companies that drive innovation and efficiencies within the affordable housing ecosystem.
As part of HDFC Affordable Real Estate and Technology Programme (HeART), HDFC Capital 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.
HDFC Capital believes that technology will play a significant role in the development of ecosystem for affordable housing, it said in a statement.
All processes like land approvals, planning and design, construction, project management, sales and facilities management are likely to undergo significant change due to technology disruptions in the near term.
"HDFC's endeavour is to act as an enabler to the growth of affordable housing in the country," said Chairman Deepak Parekh. "HeART will support businesses which are innovating and building technology solutions to enhance the supply of affordable housing."
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