• News by Month

  Select Month February 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006

• News by City

  • Bangalore
  • Chennai
  • Delhi
  • Faridabad
  • Gurgaon
  • Hyderabad
  • Kolkata
  • Mumbai
  • Noida
  • Pune

• News by Category

  • NRI
  • FDI
  • Home Loans
  • Real Estate India
  • Banking and Finance
  • Real Estate Developers

« Bangalore Has the Most Expensive Hotel Rooms | Home | Exclusive Skyscrapers Set To Change Jaipur’s Look »

Eredene to invest £16.4 million in Mumbai Properties

India focused real estate investor Eredene Capital is planning to invest around $1,312 million in a project to construct around 1,85,000 low income residential units on the Mumbai outskirts.

With the project, the company envisages to cash in on soaring demand for affordable homes in the city.

The Eredene Capital will acquire an equity stake in Matheran Realty Private Ltd (MRPL) which will offer a 55% economic interest and 49% of the voting rights. MRPL is a newly formed company that will construct the proposed residential units in eight locations across the Mumbai Metropolitan region.

The project has been scheduled to begin in 2008. The first pre-sales of residential units developed by MRPL is also expected to begin the next year.

MRPL has some pending projects which will be completed within a time period of 10 years.

News Published Under:   Real Estate Developers | No Comments »

Comments

Name (required)   

Mail (required)      

URL