LIC Housing Finance’s first real estate fund invests in four residential projects in Bangalore, Pune
As per the report, LIC Housing Finance Ltd which is a part of life insurance giant Life Insurance Corporation of India (LIC), has invested Rs 50-70 crore in each transaction from its Rs 530 crore real estate investment fund that it raised in March last year.
The fund, named as ‘LICHFL Urban Development Fund’, has invested in projects in Pune and Bangalore. The fund has also invested in a project in the city developed by the real estate company Mahaveer Group. The fund which is invested in real estate projects will also invest a part in information technology (IT), IT-enabled services and warehousing projects. This year fund is trying to close 4 to 5 deals which require investment of nearly Rs 200 crore.
Mr. AK Sharma, LIC Finance’s CEO, says that as the first fund, LIC Housing is investing money through a mix of debt and equity transactions. Currently, the company is looking at second fund once over half of the fund is deployed.
The fund is managed by LICHFL Asset Management Company Limited which is a part of LIC Housing Finance.
Source: VCCIRCLE
'LICHFL Urban Development Fund', AK Sharma, Bangalore, Housing projects, LIC Housing, LIC Housing Finance, LICHFL Asset Management Company Limited, Life Insurance Corporation of India, Mahaveer Group, Pune, Real estate fund
Demand for real estate in Bangalore and Pune increases as more and more development take place there
looking at the development speed here one can clearly say it is considered as the hottest property available in India as the projects here is just so magnificent. this are developed by the renowned residential property developers of India.
Fantastic step taken by LIC people always beleive in government affiliated projects rather than.. mainly Independent Villas in Bangalore are going to increase