Ampulus sets to raise real estate funds
Ampulus Capital Advisors, a fund management company formed by the promoters of the Ahmedabad-based Arvind Group, has floated a realty fund with a target of raising Rs 200 crore. The fund mainly focuses on investing in Gujarat real estate projects.
The firm has already raised Rs 100 crore and it hopes to distribute the fund from 2013 onwards. The fund, which is expected to close in September, has set an internal rate of returns (IRR) of 25-30 per cent.
Gujarat which is among the fast growing urban states has huge potential for all kinds of investment. The primary focus of Ampulus is on the areas of high-growth such as Ahmedabad, Baroda and Surat in Gujarat. Bangalore is also a target of the firm. It is also looking to invest in Brownfield redevelopment projects in residential and commercial projects in Mumbai.
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Gujarat has 24 lakh unoccupied houses
Source: The Times of India
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