Golden Growth Fund (GGF), a Category-II Alternative Investment Fund (AIF) focused on real estate, has acquired a prime land parcel in the Neeti Bagh area of South Delhi. The acquisition is part of GGF’s strategy to develop luxury boutique residences targeting high-net-worth and ultra-high-net-worth individuals (HNIs/UHNIs), with an estimated revenue of Rs 1 billion from the project.

In September 2024, GGF launched its real estate-focused AIF, with plans to raise Rs 4 billion to acquire land in South and Lutyens Delhi. This marks GGF as a pioneer in investing in this lucrative market. The fund made its first acquisition in Anand Niketan in October 2024, and now, with the Neeti Bagh project, GGF aims to further expand its presence in the upscale residential space.

The land in Neeti Bagh spans approximately 7,560 square feet and will feature four ultra-luxury residences. The properties will be designed in a basement plus elevated ground and four-story configuration, with each apartment covering around 6,000 square feet. The residences will offer private swimming pools, steam and sauna rooms, jacuzzis, landscaped areas, designer fittings, and premium Italian flooring, catering to the high-end living market.

South Delhi is home to 18,500 privately owned residential plots, with an estimated market value of Rs 5.65 trillion. The region is classified into different categories, with plot prices in Neeti Bagh averaging around Rs 1.2 million per square yard. The demand for luxury homes in this area is driven by a growing need for high-end amenities, an increasing number of nuclear families, and the desire for upscale living among affluent individuals, including professionals and NRIs.

News source: Business Standard