City Lights: ASK to invest Rs100 crore in Bangalore residential development

Motilal Oswal PE ties up with two Pune realtors

A realty fund managed by Motilal Oswal Private Equity Advisors (MOPE) has tied up with two realty players to develop a 16-acre land parcel in Pune. The land,located at Somatane on the city outskirts,has an estimated development potential of 7 lakh square feet,MOPE said in a statement. Its India Realty Excellence Fund has formed a joint venture along with realty players Supreme Universal and Mirchandani Group,it said. The joint venture will build villas and apartments on the land parcel,it said. The location is close to the employment generating hubs of Hinjewadi,Talegaon and Pimpri-Chinchwad,it added.

Godrej Properties launches new project in Gurgaon

Godrej Properties said it would invest up to R600 crore in developing a residential complex in Gurgaon over the next five years. The project – Godrej Summit,will be developed in partnership with Zara Sanya under an area sharing agreement,in which GPL will hold 65 per cent stake. The development would have about 1,200 flats in 11 towers comprising 2,3,4 bedroom residences and penthouses . The price of the flats will start from Rs 75 lakh. The company is expecting a total revenue of R1,200 crore from the project.

Russian realty firm offers to invest in Punjab

Russia-based realty firm CMI Development has offered to invest in infrastructure and real-estate in Punjab. The company made an offer in a meeting with Punjab Deputy Chief Minister Sukhbir Singh Badal here,an official release said. The Moscow-headquartered company said it has a total portfolio of $3 billion and has executed several projects in Moscow. Badal said Punjab is focusing on investing Rs 1 lakh crore in infrastructure sector and he wanted the execution of all these projects by international companies. He assured the company that Punjab government would provide total support to international investors who want to invest in the state.