Indian Economy News

JLL’s realty fund invests in Chennai residential project

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  • May 28, 2015

Bengaluru: JLL India’s investment arm Segregated Funds Group has invested Rs.25 crore in a residential project in Chennai, which is being developed by Vishwakarma Real Estates & Constructions (I) Pvt. Ltd, the fund said on Wednesday.

The investment has been done from Residential Opportunities Fund-I, the maiden fund of Segregated Funds Group. With this, it has deployed about 80% of its Rs.161-crore fund corpus.

The project, Skypod, is located on the Pallavaram-Thoraipakkam Radial Ring Road in Chennai. “Pallavaram in Chennai has been gaining preference from home buyers as it is conveniently located nearer to the airport and OMR (Old Mahabalipuram Road) that has various IT parks, hospitals, educational institutions and shopping centres. The area is growing rapidly because of the development of good infrastructure,” Mridul Upreti, chief executive, JLL Segregated Funds Group, said in a statement.

“We see value in investing in mid-market projects being developed by niche players in the given market,” he added.

“This partnership will further accelerate our firm’s footprint in the region,” said C. Shankar, managing director, Vishwakarma Real Estates & Constructions.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.