Amplus Realty Fund to invest Rs 30 cr in Assetz Homes project
Ahmedabad- Amplus Realty Fund has announced its first investment of Rs 30 crore in a residential project by Assetz Homes in Bangalore. In the next three years, it expects to get 25 percent returns on this investment.
The joint venture aims at developing a mid and high-end residential project in Rajajinagar, Bangalore by 2015. Amplus Capital Advisors plan to invest around Rs 50 to 60 crore in multiple projects of Assetz Homes, though its main focus will be towards Gujarat real estate.
Amplus Realty Fund is planning to raise a capital of Rs 200 crore in order to invest in realty projects in Gujarat, Mumbai, Delhi-NCR and Bangalore. Around 50 percent of the fund will be invested in projects in Gujarat while the rest will be invested in projects in other cities.
The Fund is also looking to invest Rs 15-25 crore in city-centric prime high-end or mid-market residential or residential-led developments, particularly in high growth areas of Ahmedabad, Surat and Vadodara and a few destinations such as Mumbai, Bangalore and the National Capital Region (NCR).
It is also ready to invest in brownfield commercial or retail projects and redevelopment projects. The Fund will not be used for any real estate activity of Arvind Ltd’s subsidiary.
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