HDFC Capital, CLS tie up to launch Rs 1,000 crore rental housing platform

NEW DELHI: HDFC Capital Advisors Ltd on Wednesday announced a strategic partnership with Curated Living Solutions (CLS) to set up a Rs 1,000 crore platform focused on rental housing in India.HDFC Capital, the real estate private equity arm of the HDFC Group, said the platform will develop, own and operate institutional-grade rental housing assets to cater to the rising demand for professionally managed rental accommodation in major urban centres.“The platform will focus on the development, ownership, and operation of institutional-grade rental housing assets to meet the growing demand for professionally managed rental accommodation across major urban centres,” the company said in a statement.CLS is an alternative housing platform promoted by the owners of the DivyaSree Group. It has development and operational capabilities across co-living, student accommodation and worker housing, and currently manages over 13,000 beds across the country.Commenting on the partnership, Vipul Roongta, CEO of HDFC Capital, said, “India's urban rental housing market is at an inflection point, shaped by a young and mobile population, and rental housing is essential to enhance mobility, particularly for students, young professionals, and migrant workers.”HDFC Capital, a subsidiary of HDFC Bank, focuses on financing the development of affordable, mid-income and emerging housing segments in a sustainable manner.(With PTI inputs)