Project Name Shapoorji Affordable Housing Project
Project Number 48341-001
Borrower / Company Joyville Shapoorji Housing Private Limited
Country / Economy India
Location Nation-wide
Type or Modality of Assistance
7452 Equity Ordinary capital resources INR 2,170.00 million Committed
Strategic Agendas Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Water and other urban infrastructure and services / Urban housing

Gender No gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Equity Investments Unit
Responsible ADB Officer Singh, Samarendra
Project Sponsor(s) Shapoorji Pallonji and Company Private Ltd (SPCPL)
Description

The project consists of the development of several affordable housing projects in multiple cities across India.

Established in 1865, the Shapoorji Pallonji Group (SPG) is one of the oldest and most reputed conglomerates in India with presence across construction, real estate, infrastructure and water. Shapoorji Pallonji and Company Private Ltd. (SPCPL) is one of the leading real estate companies in India with a pan-India portfolio of residential and commercial developments and experience in the affordable housing sector.

Objectives and Scope To develop a portfolio of affordable housing projects across India.
Status of Operation/Construction The company is currently developing six (6) subprojects under the platform with expected construction completion dates from June 2024 to March 2026.
Linkage to Country/Regional Strategy The Project supports the Government of India's priority of promoting affordable housing. The Plan calls for private sector involvement in the housing sector.
Safeguard Categories
Environment B
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects No significant adverse environmental impacts are anticipated. Potential impacts include vegetation clearance, storm water management, dust, noise, solid and liquid wastes generation, and increase in local traffic due to operation of construction vehicles and equipment onsite. All these are site-specific and can be mitigated with proper mitigation measures.
Involuntary Resettlement No involuntary resettlement impacts are expected.
Indigenous Peoples Impacts on indigenous peoples are not expected as there is no likelihood of concentrations of scheduled tribes occupying or utilizing the sites within the metropolitan cities.
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 10 Nov 2014
Credit Committee Meeting -
Approval 07 Jul 2015
Last PDS Update 22 Apr 2022
 
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Source URL: https://www.adb.org/projects/48341-001/main