Aditya Birla Realty Fund in process of closing two investments

Q: Aditya Birla Real Estate Fund is in the process of closing two investments in projects of Chennai-based Barath Building Construction Pvt. Ltd.

Shyam Sundar, Chennai

11th December 2014

Real estate News in Chennai

chennai real estate

thoraipakkam

aditya birla real estate fund

barath building construction pvt ltd

aditya birla financial services group

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At the time when home sales are particularly low, a number of private equity funds are looking to buy apartments at steep discounts to market prices. Indiareit Fund Advisors Pvt. Ltd. backed by the Ajay Piramal Group started buying residential apartments in bulk from developers earlier this year when they launched an apartment fund.

Chandra mouli, Chennai

11th December 2014

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The investments have all been in residential projects in the top 5 property markets of Mumbai, the National Capital Region, Pune, Bangalore and Chennai. They plan to do another 3 investments or so before fully investing the fund corpus. Once that is done, by the first quarter of next year they hope to raise a second fund.

sharath, Chennai

11th December 2014

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Different from debt-like transactions employed by real estate funds these days, these would be pure equity investments. Barath Building currently has around 2 million sq-ft of real estate development in the city and has completed 40 projects. With the investments in Chennai, Aditya Birla Real Estate Fund completes about 12 deals.

Chandra mouli, Chennai

11th December 2014

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They have entered into a 70:30 joint venture with the developer for the project, that will have around 700000 sq-ft of residential development. In another transaction, the fund is in the process of investing Rs.75 crore in a redevelopment project in Chennai, where an existing hotel would be demolished for residential development, on about 2 acres of land.

sharath, Chennai

11th December 2014

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Aditya Birla Real Estate Fund, a part of the Aditya Birla Financial Services Group, has invested Rs.60 crore in Barath Building’s upcoming 8 acres project in Thoraipakkam, Chennai, at an early, land acquisition stage.

Chandra mouli, Chennai

11th December 2014

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As the Rs.1100 crore fund reaches its final stage of expansion, said a top fund executive who did not want to be named. Once fully expand, it plans to raise a new, second fund.

sharath, Chennai

11th December 2014

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