DPIIT, HDFC Capital Join Hands to Boost Startups in Housing & PropTech

At the heart of this partnership lies the H@ART Programme (HDFC Affordable Real Estate and Technology Programme)—an innovation-focused initiative launched by HDFC Capital.

In a pivotal move to accelerate innovation in India’s affordable housing and real estate technology sectors, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has signed a Memorandum of Understanding (MoU) with HDFC Capital Advisors Limited, one of the country’s leading real estate investment managers. The partnership marks a significant milestone in strengthening India’s startup ecosystem, especially in the PropTech and housing innovation domains, which are critical to the vision of Atmanirbhar Bharat and Viksit Bharat@2047.

The agreement was formally signed by Mohammad Isharar Ali, Director at DPIIT, and Vipul Roongta, Managing Director & CEO of HDFC Capital Advisors Limited, in the presence of senior officials from both organizations.

H@ART Programme: The Engine Behind the Collaboration

At the heart of this partnership lies the H@ART Programme (HDFC Affordable Real Estate and Technology Programme)—an innovation-focused initiative launched by HDFC Capital. H@ART is designed to improve efficiency, reduce costs, and promote technological adoption throughout the affordable housing development value chain. It provides a collaborative platform for:

• Startups and entrepreneurs

• Affordable housing developers

• Academia and research institutions

• Real estate investors and accelerators

The programme seeks to de-risk innovation by offering mentorship, strategic capital, and access to the extensive HDFC network—enabling startups to pilot solutions, scale operations, and achieve market validation more effectively.

DPIIT’s Role: Creating an Innovation-Driven Policy Framework

The MoU reaffirms DPIIT’s role as a policy enabler and ecosystem builder. The department is actively working to foster cross-sector innovation by bringing together corporate expertise, policy support, and startup talent.

Joint Secretary, Shri Sanjiv, emphasized the growing need to tap into industry-academic synergies and leverage platforms like H@ART to bridge the gap between urban development goals and startup capabilities.

“By engaging with leaders like HDFC Capital, we are ensuring that transformative ideas in housing and PropTech do not remain on the drawing board but are integrated into mainstream development strategies,” he stated.

Empowering Innovation in Real Estate and Urban Infrastructure

PropTech (Property Technology) is an emerging sector in India with the potential to revolutionize how real estate is planned, constructed, sold, and managed. From smart home solutions to construction automation, AI-based project monitoring, and sustainable materials, PropTech startups are positioned to reshape urban living and housing access.

Affordable housing, meanwhile, remains a national priority under flagship missions such as Pradhan Mantri Awas Yojana (PMAY). However, challenges persist—ranging from high construction costs and project delays to regulatory bottlenecks. The H@ART Programme addresses these by creating a platform for innovation, financing, and scaling.

Private Sector Engagement for Public Good

Vipul Roongta, MD & CEO of HDFC Capital Advisors Limited, underscored the company’s long-standing commitment to affordable housing and urban development.

“India’s startup ecosystem has demonstrated extraordinary dynamism. Through this partnership with DPIIT, we aim to support high-impact ventures that can accelerate progress in the affordable housing and PropTech space, delivering on both commercial goals and national development priorities,” Roongta said.

By enabling faster adoption of innovation in the real estate sector, the collaboration is expected to have spillover benefits in areas such as:

• Job creation and entrepreneurship

• Climate-smart urban planning

• Digitization of real estate services

• Improved housing access for economically weaker sections

Toward Viksit Bharat @2047

The MoU is a reflection of DPIIT’s broader strategy to position India as a global innovation hub by 2047, coinciding with the country’s centenary of independence. It supports inclusive, sustainable, and scalable innovation, and embodies the spirit of “Sabka Saath, Sabka Vikas” through industry-led transformation.

With India's urban population expected to grow to nearly 600 million by 2036, the need for affordable, efficient, and technologically enhanced housing solutions is more urgent than ever. DPIIT and HDFC Capital’s alliance comes at a strategic time, unlocking new pathways for smart urban growth, housing equity, and start-up driven disruption in India’s $200 billion real estate industry.