BlackSoil Realty to invest Rs 25 cr in Ahuja Constructions’ residential project

MUMBAI: BlackSoil Realty Fund-I is set to invest Rs 25 crore in realty developer Ahuja Constructions' residential project in central Mumbai's Sion locality. 

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The SEBI registered Category II alternative investment fund has recently concluded raising Rs 139 crores and is planning to invest the residual amount within the next 12-18 months, the fund said in a statement. 

BlackSoil Realty Fund will be investing in Ahuja Constructions' mid-market project, O2. The project consists of 7 buildings spread over 2.5 acres and is scheduled to be completed by 2019. 

The Fund is promoted by Shashi Kiran Shetty, CMD of Allcargo Logistics, Gnanesh Gala, Managing Director of Navneet Education, and Mumbai based realty expert, Virendra Gala. 

Ahuja Constructions has, so far, developed 44 projects across Mumbai, and is developing around 7 million sq ft including society redevelopment, joint venture and slum rehabilitation projects. 
 

Source - ET

Shapoorji Pallonji Launches Residential Project in Bengaluru

Realty player Shapoorji Pallonji Real Estate today launched a premium residential project in Bengaluru, marking its foray into the IT hub of the country.

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Spread across 47 acres, the project ParkWest will have 18 storey tower scaling a height of 60 metres and will have two and three bedroom apartments, garden duplexes and penthouses ranging from 1,245 sq ft to 2,921 sq ft, the company said in a statement.

"This project marks our foray into the Bengaluru market," company's Chief Executive Officer Kekoo Colah said.

He further said the luxury residential project will offer Bengaluru residents gracious and exclusive living with the best of modern amenities, right in the heart of the city.

"With a stable and growing residential market, and improved infrastructure, Bengaluru is poised for sustained growth," he added.

Source - NDTV