World Bank’s International Finance Corporation (IFC) and the Mumbai-based construction firm Sunteck Realty are partnering to establish a joint platform to develop approximately 12,000 high-quality housing units with an investment of up to INR 750 Crore.
These houses will be developed across four to six green housing projects within the Mumbai Metropolitan Region (MMR) in Maharashtra.
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IFC is proposing an investment of up to INR 330 Crore ($40 million), while Sunteck Realty will contribute the remaining amount. The Mumbai Metropolitan Region (MMR), which has a population exceeding 22 million, represents India’s largest and most active housing market. It is currently facing a substantial housing deficit.
The IFC-Sunteck joint venture focuses on developing large-scale housing projects in the extended suburbs of Mumbai city to serve the mid-income demographic.
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