Brief Description: HOAL and HDFC Capital Affordable Real Estate Fund-3 came together to create a JV platform entailing project investments of INR 15 Billion (USD 180 Million approx.) towards the development of new generation low-rise development projects in India. The investment will result in a Gross Development Value of INR 4500 crores. The JV entails the development of new generation low-rise projects all over India. The transaction involves issuance of debentures by the JV to the Investor in one or more tranches against infusion of the investment amount.

Deal Value: USD 180 Million approx

Firm’s Role: Advised and assisted HOAL on the transactional structure (including the RERA compliant escrow), negotiation and finalisation of transaction documents for setting up funding for a joint venture with HDFC Capital Affordable Real Estate Fund and advised on Indian laws. The transaction involved setting up a one of its kind JV with debt investment from the Investor and equity from promoter group for the purposes of executing new generation low rise residential projects in India.

Team Involved: Partners, Piyush Mishra and Shivani Sinha.