Janaadhar India Raises Rs 77 Cr for Affordable Housing Project

Bengaluru-based affordable housing developer Janaadhar India has raised Rs 77 crore in both debt and equity from existing investors as well as from UK-based affordable housing investor, Reall, as a part of their partnership. R

BY Realty Plus
Published - Saturday, 26 Dec, 2020

Janaadhar India Raises Rs 77 Cr for Affordable Housing Project

Bengaluru-based affordable housing developer Janaadhar India has raised Rs 77 crore in both debt and equity from existing investors as well as from UK-based affordable housing investor, Reall, as a part of their partnership. Reall is funded by the UK’s Foreign and Commonwealth and Development Office (FCDO), and the Swedish International Development Agency (SIDA). They have been at the forefront of affordable housing for over 30 years impacting over 3.5 million people across Africa and Asia. This will be Reall’s first partnership with a developer delivering affordable housing at scale in India. Janaadhar aims to fill the shortage of 10 million units in affordable housing development through high quality, spatially efficient houses for low-income families in India. It plans to deploy the funds for development of an affordable housing project near Ahmedabad and in also establishing a precast plant. This fresh infusion of capital will play a very catalytic role in delivering homes for the EWS/LIG segments while also crowding in other sources of capital. Reall’s deep expertise in affordable housing will allow access to innovative solutions through their vast networks globally. Currently, Janaadhar is well on its way to undertake development of over 2,000 affordable homes in Karnataka, Gujarat, Rajasthan, and Maharashtra.