The global private equity firm Actis is planning to exit its first and only PERE fund in India. Actis had invested $25 million in a residential and retail project in Bangalore.
The private equity firm Actis is pondering over exiting its private equity in real estate (PERE) fund from India. The private equity firm had invested $25 million in Bangalore for the development of a residential and retail project. Continue reading
To bring in more transparency to its accounting procedure, Bangalore-based real estate developer Lalith Gangadhar Constructions will maintain an exclusive construction escrow account with Kotak Bank for the LGCL-Ashlar project it is developing in Garden City.
The Rs 150-crore project comprises 63 villas on 7.75 acres, each carrying a minimum price tag of Rs 2 crore.
The developer plans to launch two more luxury format projects. The company will keep the budgeted construction cost for the project in a separate construction escrow account from payments received from the home-buyers. The funds here will be used solely for project construction.