Adani Realty and Brahma Management to jointly develop 150-acre township in Gurgaon
Adani Realty, a subsidiary of Adani Enterprises, and New York based India-focused investment firm Brahma Management has entered into an agreement to jointly develop a township in Gurgaon. According to one of the sources, both the partners have been in talks and have signed the agreement.
According to news source, Adani Realty has declined to comment for this story and Brahma Management did not elicit any response to the email sent for the same.
Brahma is an FDI-funded asset management group that focuses on the Indian real estate sector and has over $500 million of assets under management. The company had planned to develop town homes and villas as well as educational, leisure, recreational, service, commercial, retail and other ancillary areas and facilities.
Adani Group is looking to expand its real estate business and is actively scouting to enter into joint development agreements or buy land. The group has recently bought properties from Mumbai developer Housing Development & Infrastructure (HDIL) for Rs 900 crore.The group is developing a 700 apartment project in Gurgaon, a 600 acre township and an affordable housing project in Ahmedabad.
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