BANGALORE: International Finance Corporation, the private investment arm of the World Bank, will soon enter the low-cost housing segment in India. The corporation is currently evaluating models such as tying up with developers, entering into public-private partnership with state governments and infusing money into a fund dedicated for affordable housing to give boost to its maiden housing venture in India.
"We had received management approval and wanted to enter into a segment which was largely untapped," said a senior official from IFC, who did not want to be named. IFC, which is working out the modalities, wants to offer homes in the .`3-10 lakh price range to households with incomes between Rs.8,000 and Rs.25,000. IFC will look at such opportunities in the suburbs of Ahmedabad, Bangalore, Delhi-NCR, Pune and Kolkata.
"The team is currently studying the cost implications associated with various models as it is a very high risk area. We need to tread carefully and understand the market," said the official.
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