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Indian Real Estate News : Bangalore
Amplus Realty Fund makes first investment in Bangalore-based developer Assetz Homes
Source: ET Bureau Dec 10, 2012
Amplus Realty Fund has formed a joint venture with Bangalore-based developer Assetz Homes to invest over Rs 110 crore through equity investment, debt and customer advances. The joint venture will develop a mid and high-end residential project in Bangalore, the fund said in a release.

This is Amplus Realty Fund's first investment in Bangalore.

The 2.5-lakh-sq-ft project is coming up at Rajaji Nagar in Bangalore and is expected to be completed in next three years. Amplus Capital Advisors may invest a total of Rs 50-60 crore in multiple projects of the Assetz Group over next 2-3 years, said CEO, Anuranjan Mohnot.

Currently, Amplus Realty Fund is raising Rs 200 crore with green shoe option of Rs 100 crore to invest in realty projects in Mumbai, Gujarat, Bangalore and National Capital Region. Amplus Realty Fund-1 is aiming to achieve its target close by April 2013.

Amplus Realty Fund-I has set a target of using half of its corpus to fund projects in Gujarat, while the remaining funds will be deployed in projects at Bangalore, Mumbai and NCR to diversify the portfolio. The fund plans to invest between Rs 15 and Rs 25 crore in realty projects in future.

Tag: Indian real estate, property in india, century real estate, bangalore real estate
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