IL&FS to partner with Jerry Rao's VBHC for affordable housing projects

As part of its affordable housing entry, IL&FS is looking to develop one million homes in the next five years time

Infrastructure development and financing group IL&FS will partner with Jaithirth Rao’s VBHC Value Homes to develop affordable housing projects across various states, according to a top official.

IL&FS announced its entry into the affordable housing segment in April this year. “In the first phase, we are developing affordable homes in land parcels that are in our possession or very credible parties like value & budget housing, etc,” said Hari Sankaran, vice-chairman and managing director for IL&FS. The company will look at a joint development model for these projects.

For IL&FS group, Sankaran added renewable energy and affordable housing will be