Rs 200 crore fund raised by Golden Gate Properties
The severe liquidity crunch during year 2010 and 2011 had stalled all the realty transactions in India.
There was a complete downfall in the constructions, rent-in, rent-out and even sale deeds.
A new life has been brought into real estate industry, wherein around Rs.200 crore from JM Financial Ltd’s non-banking financial company (NBFC) has been raised by the Golden Gate Properties Ltd.
The Golden Gate Properties has set a best example which depends on the PE funds and NBFCs capital.
Meanwhile, NBFC has increased general purpose loans in concern with the developers to make best use of them in improving standards of the Indian real estate.
Source: Live Mint
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