HDFC Bank backs Hyderabad luxury housing project with Rs 300 crore

New Delhi: has invested Rs 300 crore to fund the construction of an ultra-luxury residential project in Kokapet, Hyderabad, as developers increasingly turn to structured financing amid moderating housing sales and rising demand for premium homes.

The funding will support completion of the project, which has a gross development value of Rs 2,000 crore and is being developed by DE Blue Oak and P Mangatram.

Transaction adviser CBRE declined to comment.

Funding activity in residential real estate has picked up in recent months as developers seek access to credit lines amid slowing sales momentum.

“Funding activity in residential real estate is seeing renewed momentum, especially in projects with strong locations and credible developers,” said Pankaj Galav, co-founder of AARE Consulting. “While sales velocity has slowed down compared to the peak of the last two years, developers are securing structured credit lines to ensure faster delivery and maintain buyer confidence.”

Recently, ASK Curated Luxury Asset Fund I, a luxury-focused real estate investment platform co-sponsored by India Sotheby’s International Realty and ASK Property Fund, invested Rs 63 crore with Goa-based Priority Group for Ananda Nilaya, an ultra-luxury villa project in Arpora, North Goa.

“At the same time, financial institutions remain comfortable funding projects in micro-markets such as Kokapet, given its strong infrastructure growth, premium positioning and sustained demand from homebuyers. For lenders, projects backed by established developers in emerging corridors offer better visibility on sales, cash flows and long-term asset appreciation,” Galav said.

WSB Partners, a real estate-focused investment firm, has also invested Rs 75 crore in Omaxe Group for residential plotted developments in Ujjain and Indore.

Hyderabad has emerged as the biggest market in southern India’s ultra-luxury residential segment, recording transactions worth Rs 8,562 crore for homes priced at Rs 10 crore and above in FY26.

According to India Sotheby’s International Realty and CRE Matrix, Hyderabad’s luxury housing market has expanded 3.5 times in four years, with transaction value rising from Rs 2,447 crore to Rs 8,562 crore as demand for larger apartments increased.

Nearly 57% of sales in Hyderabad were for apartments larger than 8,000 sq ft, while villas and row houses accounted for 40% of total transaction value in FY26.

For a Rs 10 crore investment, buyers in Hyderabad get about 6,210 sq ft of space— nearly 60% more than in Bengaluru at 3,930 sq ft and significantly higher than Chennai at 4,290 sq ft.