IL&FS Group Affordable Residential Smart Homes Project in GIFT City
IL&FS Group said it has forayed into residential real estate segment with its affordable smart homes project in GIFT City, Gandhinagar through the company’s subsidiary IL&FS Townships & Urban Assets.
Infrastructure Leasing & Financial Services Limited (IL&FS) is one of India’s leading infrastructure development and finance companies. Its central mandate is catalysing the development of innovative world-class infrastructure in the country.
For over 25 years, they have focused on commercializing infrastructure projects and creating value-added financial services to become a proactive partner in India’s growth story.
Widely acknowledged as the pioneer of Public Private Partnership (PPP) in India, the IL&FS Group has, through a variety of projects, benchmarked the private sector’s role in and commitment towards infrastructure development in India.
In a statement, IL&FS said it will offer affordable smart homes to meet the aspirations of the low and mid-income segment population of the country.
With a target of developing 10,000 homes in the next 5 years, the Group will be scouting for joint venture and public-private partnership (PPP) opportunities in the identified micro-markets, having a potential of mass housing developments.
IL&FS has already secured requisite approvals for launching smart homes project in GIFT city in Ahmedabad and is in advance stage of finalisation of land parcels in Chennai, Hyderabad, Alwar and Bengaluru, the statement said.
The formalization of housing presents a huge opportunity for private players in India. The group have put together a plan for affordable residences that address the need for housing by keeping in mind the limited ability of people to pay, individual aspirations for a better lifestyle and potential avenues for livelihood within the ecosystem, Vice Chairman IL&FS Group said.
The company said it will also be leveraging its capabilities in multi-domain infrastructure to provide low-cost affordable housing with improved services.
Source Link- https://timesofindia.indiatimes.com/.