India, Oct. 10 -- Arvind SmartSpaces Limited (ASL), a part of the Lalbhai Group, Ahmedabad, a Real Estate Development company, announced that it has entered into a strategic partnership with HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1) - a fund managed by HDFC Capital Advisors Limited, a wholly-owned subsidiary of HDFC Ltd. The partnership will focus on the development of affordable and mid-income housing projects in India while ensuring the quality and timely delivery of finished units. The proposed developments will be undertaken by a special purpose vehicle Arvind Homes Private Limited set up with an initial investment of Rs 250 crores.

Renu Sud Karnad, Managing Director, HDFC Ltd, said "Housing remains a crucial need in Indi...