In a land of a billion and more people, only a fraction has been able to fulfil their dream of owning their home. Growth in urbanization and increase in disposable incomes has led to a higher aspiration to own a house, as the working class seek to cement their new-found status. As an outcome Affordable Housing now contributes a significant portion of the residential sales volume in the country.
The Economically Weaker Sections (EWS), Low and Mid-Income Groups (LIG & MIG) have witnessed improved affordability over time, leading to an urban housing shortage in the country, with a significant part of it arising from the EWS and LIG segments.
We aim to create sustainable housing opportunities for the aspirational mid & lower income groups. In doing so, the HCARE Series of funds seek to enable people to buy their own home and upgrade to sustainable living. This also aligns with the Government’s s goal to increase overall housing supply, including the ‘Housing for All’ objective.
With Government support under PMAY and other schemes to promote affordable housing, we are committed to develop the affordable housing eco-system in India through flexible finance, technological intervention and partnerships.
With this aim in mind, as of July 2023 we have committed funds towards the development of ~215,000 homes with ~57% of homes catering to Economically Weaker Segment(EWS) and Low Income Group (LIG) segments and ~40% of homes priced below US$ 50,000.