06 Apr 2018
HDFC, India's largest private sector lender, recently invested a massive Rs. 600 Cr. in TEN BKC – one of Radius Developers’ most coveted projects. The move comes as a huge impetus to us as developers of the project and brings a tonne of benefits for our customers.
Here’s all you need to know about one of the biggest financial real estate deals of the year:
• Why is it significant to our customers?
This move by HDFC ensures financial stability and demonstrates our reliability as a brand; making the perfect development of TEN BKC, the perfect place to invest.
• Why is this such a newsworthy event?
Housing Development Finance Corporation (HDFC) is India’s largest mortgage lender and non-banking finance company.
• But what is it about, really?
HDFC has extended a construction finance facility with a tenure of four years to the 2.2 million sq. ft. luxury project, which will attract an annual interest of around 12%.
This is the first time the two entities have come together.
• Want details about TEN BKC?
The luxury project is situated in one of Mumbai’s financial hubs and is all set to be the newest landmark to grace the BKC skyline with a stunning façade.
TEN BKC is essentially a redevelopment of the Bandra MIG Colony. Construction has commenced and we’ve already received requisite approvals from the authorities.
• What else is new?
HDFC’s subsidiary, HDFC Capital Advisors, has invested a sum of Rs. 400 Cr. in another project by Radius Developers, called Anantya. This development in Chembur is a 40-acre slum rehabilitation project and the investment takes the total investment up to a massive Rs. 1000 Cr. deal.
• What does it mean to us?
At Radius Developers, this move comes as a huge morale & financial boost and we’re glad you’re a part of our journey to success!
They say you cannot improve on perfection but with your support every step of the way – we can! To know more about the embodiment of perfection: http://www.radiustenbkc.in