ASK Property invests 100 Cr in Mumbai project
ASK Property Investment Advisors, the real estate private equity (PE) arm of diversified financial services company ASK Group, has invested Rs 100 crore in a Mumbai-based residential project in Mulund, being developed by Rajesh Builders.
Raj Altezza Project will be completed in two phases and will occupy 400 units in total. The cost of the project is estimated to be Rs 700 crore and each unit will cost about Rs 1-1.5 crore, at Rs 8,000-11,000 per sq ft.
This is the eighth investment of ASK Property. It is likely to sign another deal in the range of Rs 100-150 crore for a residential project in Bangalore.
According to a recent industry report, an estimated 843 million people will live in Indian cities by 2050. This rapid urbanisation is expected to offer large-scale opportunities for real estate and infrastructure development in Indian cities, it added.
To read more real estate news:
MMR property sales slump over 50%
Source: Business Standard
ASK group, ASK Property Investment Advisors, cost of the project, financial services, Indian cities, Infrastructure development, Mumbai, PE, Private Equity, Raj Altezza Project, Rajesh Builders, Realty News, Report, Residential project in Bangalore, residential project in Mulund, urbanisation
