Ajay Piramal Group has invested Rs 225 crore in 2 projects of Noida-based builder Lotus Greens.

Pranab Malakar,

16th January 2015

Real estate News in Kolkata

home loan

cushman and wakefield

ssg capital management

ajay piramal group

red fort capital

ncr

lotus greens

Follow Discussion

Also see discussions for

Kolkata Real estate News Real estate News in Kolkata

Replies (6)

With the Reserve Bank of India on Thursday announcing a 25 basis point cut in the rate at which it lends to banks, there is a new hope that banks will follow suit and reduce home loan rates, which could be the trigger that homebuyers have been waiting for.

Aneek Das,

17th January 2015

Comment

With the Narendra Modi government initiating make better measures, including relaxation of FDI in construction and real estate, home sales are expected to look up but with a fall behind. The commercial office space leasing market has begun to see an improvement as corporate occupiers restart their expansion plans.

Saran,

16th January 2015

Comment

This is because, the real estate industry across the country has been facing a downturn for the last several quarters. But private equity funds see an opportunity as developers look around for funds to either complete projects or to buy land. Home sales have been slow over the last year or so.

Aneek Das,

16th January 2015

Comment

You are right Aneek, according to property consultant Cushman & Wakefield, private equity investment in the real estate sector jumped more than two-folds months to September 2014, as developers were forced to raise funds from PE firms to meet their capital requirements. PE funds invested close to Rs 8900 crore in the real estate sector during the period.

Saran,

16th January 2015

Comment

But Saran, according to property advisory firm CBRE, which was the transaction advisor to the deal, declined to comment. The co. had already raised Rs 450 crore last month from private equity funds Clearwater Capital and SSG Capital Management for another Sports City that will be spread over 300 acre in Noida's Sector 150. The builder had raised this money to fund the first chain, which it had to pay to Noida Authority for the land.

Aneek Das,

16th January 2015

Comment

Lotus Greens will use a part of the funds to pay for the land it has bought in Noida. The rest will be used to complete old projects, including Lotus Boulevard and Lotus Panache, for developing the ph-2 of its Arena project in Sports City in Noida's Sector-79 and for a new plotted development in Sports City.

Saran,

16th January 2015

Comment