Eldeco raises Rs 275 cr from Tata Capital Housing Finance
financialexpress.comLeading real estate developer Eldeco Group has raised Rs 275 crore in debt from Tata Capital Housing Finance Ltd (TCHFL), a wholly-owned subsidiary of Tata Capital Ltd. The Eldeco Group plans to deploy the capital raised in mid-income residential projects in Delhi NCR.
The Group so far has delivered 175 projects with approximately 30 million sq ft of real estate development. The fund infused by TCHFL will focus on Eldeco’s 2 residential mid-income projects in the NCR. Both the projects have been launched and are currently under construction.
The first project is a 2.1 million sq. ft. project in Noida and the second one is a 1.2 million sq ft project in Sohna, Gurugram. Eldeco Group has currently invested Rs 175 crore in both the projects.
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