Piramal Fund invests Rs 225 cr in realty project in Ahmedabad
Investment in mixed use development project in Ahmedabad
Apr 28, 2015
Source : Business Standard

 

Mumbai: Private equity company Piramal Fund Management (PFM) has invested Rs 225 crore in realty firm Ganesh Housing Corporation's mixed use development project in Ahmedabad.

"PFM has invested Rs 225 crore with a subsidiary of Ganesh Housing Corporation. The investment is towards a prime city centric land parcel situated close to Surdhara Circle in Thaltej, Ahmedabad," the company said in a statement. 

The investment marks the company's foray into Ahmedabad market after funding projects in cities like Mumbai, Pune, Bangalore, Delhi NCR and Chennai. 

The project, spread across 10 acres with a saleable area of nearly 1.8 million sqft, is envisaged to be developed as a mixed-use scheme with a combination of residential apartments coupled with both commercial and high street retail component, the release stated. 

"Our decision to expand our target geographies was based on a great deal of research in potential target locations and we found Ahmedabad to be a viable destination for investment. We look forward to expanding our presence over time," PFM Managing Director Khushru Jijina said. 

PFM caters to early stage equity, late stage debt and construction finance. 

"In addition to a sizeable portfolio extending across the Tier I cities, we are analysing Tier II cities on a selective basis and intend to scale up its exposure to these locations gradually," he added.

Latest Realty News

Punish-builders-flouting-safety-norms:-DM
Apr 28, 2015
NOIDA: Gautam Budh Nagar district magistrate N P Singh asked Noida and Greater Noida authorities to inspect buildings for safety parameters
Guardian-min-steps-in-to-stop-razing-of-illegal-structures-along-creek
Apr 28, 2015
THANE: The illegal commercial structures that have come up across the Mumbra-Kalwa coastline have been spared the axe
Bizman,-2-builders-held-for-cheating-bank
Apr 28, 2015
NAVI MUMBAI: A 36-year-old businessman, Navin Kunjar, was arrested along with two builders
HC-notice-to-BDA,-3-others-for-selling-park-land
Apr 28, 2015
BENGALURU: The Karnataka high court ordered notice to the BDA and BBMP over a PIL challenging the allotment of land reserved for a park in the city
80%-of-Delhi's-buildings-won't-stand-a-quake
Apr 28, 2015
NEW DELHI: Delhi is located in seismic zone 4, making it highly vulnerable to earthquakes.
‘Include-affordable-housing,-informal-sectors-in-draft-DP’
Apr 28, 2015
Mumbai: The draft Mumbai development plan should not just be error-free but should also consider other issues, like providing for affordable housing, map slums and rest of the informal sector, experts
MCGM-to-fast-track-realty,-construction-permissions
Apr 28, 2015
MUMBAI: Taking a cue from Prime Minister Narendra Modi's plan to improve the conditions for doing business in India, the Municipal Corporation of Greater Mumbai (MCGM) has simplified certain approval procedures
Realty-firms,-private-equity-funds-may-shelve-plan-to-set-up-REITs-on-MAT-fear
Apr 28, 2015
MUMBAI: Real estate developers and private equity funds which were planning to set up Real Estate Investment Trusts (REITs) have shelved their plans
Provident-Housing-set-to-raise-funds-from-private-equity-firms-for-expansion
Apr 28, 2015
BANGALORE: Provident Housing, the affordable homes unit of Bengaluru-based Puravankara Projects, is looking to generate funds from private equity firms
Slowdown,-increased-RR-rates-hit-real-estate
Apr 27, 2015
NASHIK: The slowdown in the real estate and the rise in Ready Reckoner (RR) rates in the past few years have hit the sector hard

Latest Realty News Of State

Realty Talk's