Wadhwa Group raises Rs 650 crore for maiden affordable housing project

Realty developer Wadhwa Group has raised Rs 650 crore from PNB Housing Finance as construction finance for the first phase of its maiden affordable housing project spread over 138 acre in Panvel near Mumbai.This is the first integrated project to be developed under the Navi Mumbai Airport Influence Notified Area (NAINA) and at least 15% of the project will be used for commercial development and social infrastructure. With this project, Wadhwa Group – known for its premium residential and commercial projects in Mumbai — is venturing into the affordable housing segment.

Source : ET Realty