Amplus Capital invests in Bengaluru’s upcoming Jain Heights Project
An estimated amount of Rs 35 crore has been invested in Bengaluru City’s upcoming residential project of Yeshwantpur area by Amplus Capital Advisors Pvt. Ltd.
Amplus Capital Advisors Pvt. Ltd has invested around 35 crore in a project owned by the Bengaluru based builder Jain Heights. The capital investment made by Amplus Capital is for Jain Heights’ residential project in Yeshwantpur, Bengaluru and will be focusing on acquiring the land required for initiating the project. Some of it will also be used to finance pre-construction costs which include procedures such as getting sanctions and other such official work. Managing Director of Jain Heights, Kishore Kumar, claims labels it as a purely equity based transaction.
Proposed project:
- Work on the upcoming residential project is yet to be started and is in its design phase at the moment.
- A saleable area of 6.5 lakh square feet has been estimated based on the design proposal of the residential project.
Anuran an Mohnot, the Chief Executive of Amplus Capitals expects to see a high growth rate of the real-estate market in backdrop of a fast growing and urbanised Bengaluru which will help in an up-turn of the economy; the fund is thus end-consumer driven, as per Anuranjan Mohnot.
The Fund is also said to be co-promoted by the Chairman and Managing Director of Arvind Ltd., Mr. Sanjay Lalbhai and includes Jayesh Shah, CFO and Rohit Choksi, director, at GK Choksi and Co.
Amplus Realty is a private equity fund raising real estate company based at Ahmedabad. The company was founded in 2007 and has 5 upcoming projects which are in their various stages of development and estimated to be worth 1.5mn. The company has also covered fund raising projects from Reliance Capital and Milestone.
Jain Heights is a well-reputed company in the real estate market of Bengaluru and CEO Anuranjan Mohnot is delighted at being deemed able to partner with this company which has had an excellent track record with their stakeholders for value creation. Kishore Kumar, Managing director, also feels that this investment will leave a positive impact on the Bengaluru realty market, thereby proving to be beneficial for Amplus Realty.
Source: Live Mint
Amplus Capital Advisors, Amplus Realty Fund, Jain Heights, Jain Heights Project, residential project in Yeshwantpur
