HDFC Property Fund and Sterling taking up a project in Whitefield, Bangalore

Sterling Urban Developments (JV of HDFC Property Fund and Sterling Developers) are reported to have taken a development initiative on 150 acres in Whitefield at a estimated cost of Rs.4000 Crores. Will have a total built-up of 20 million square feet to be built in phases. Courtyard villas are being built and in next phase they will have a mixed use development of over 2000 apartments, commercial, retail and IT office space, as per media sources.

HDFC have committed Rs. 40 crore each in in JV for mixed-use property development. They also plans to expand into property developments in Pune and Kochi. They are actively considering acquiring infrastructure companies to aggressively enter infrastructure sector. Its investment plans include education and hospitality industries as well. They've also acquired land for some hotel projects in Hyderabad and Bangalore.