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« Real Estate Sector Still Deprived of Genuine Demand | Home | GIC Housing Finance Targets Disbursal of Rs 750-cr Housing Loans this Year »

Milestone Real Estate Fund Invests Rs 1.10 bn in Kolkata Project of Godrej Properties

Milestone Real Estate Fund, a securities and exchange board of India (SEBI) registered venture capital fund has invested Rs 1.10 billion into a residential project in Kolkata. Jointly developed by Milestone and Godrej Properties, this 3 million square feet project aims to bring a prestigious residential complex to Kolkata.

Announcing this, Ved Prakash Arya, Group CEO and MD, Milestone Group said, “We are very happy to associate with the Godrej brand. Recognizing the need for quality housing projects in India, we have decided on this venture, due to our partner`s excellent track record when it comes to quality and value for money in design & facilities. This project being in the mid-segment housing sector holds great promise and value for home buyers.“

“Focus is shifting from conceptualization to execution and this is where we too are in a position to bring in an active management approach. Having real estate investment professionals with decades of development and project management experience, it helps to go beyond investment and into investment nurturing“, Arya added.

Milind Korde, MD, Godrej Properties has confirmed this development. However Godrej Properties has refrained from making any statements in the context of its statutory period. It may be noted that GPL has received the SEBI card for bringing out its maiden initial public offer (IPO).

News Published Under:   Kolkata | No Comments »

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