Alternative investment platform Walton Street BlackSoil Real Estate Debt Fund II has invested Rs 1.65 billion in Sowparnika Homes Pvt Ltd for a portfolio of projects across Bengaluru.
These projects cater to the mid-income and affordable segment with an average ticket size of Rs 50 lakh, and are located near key employment centres and IT hubs such as Sarjapur Road, Whitefield and Old Madras Road.
“This is the biggest investment made by WSBREDF-II and we will facilitate the delivery of 2,750 homes in the above category,” said Vimal Jangla, managing partner of WSB Real Estate Partners.
Sowparnika has delivered more than 5 million square feet, covering more than 7,500 homes, in this segment, and currently has 4,500 homes spread across 4 million sq ft under development in Bengaluru.
“Our partnership with Walton Street BlackSoil will help us deliver high-quality value homes and timely delivery of apartments to end users in the affordable and mid-income segment,” said Ramji Subramaniam, promoter of Sowparnika Projects.
WSBREDF-II recently invested over Rs 1.05 billion in two under-construction mid-income housing projects of Pune-based realty developer Paranjape Group.
See also:
Uttar Pradesh to construct 860,000 houses under PMAY
https://www.constructionworld.in/latest-construction-news/real-estate-news/uttar-pradesh-to-construct-860-000-houses-under-pmay/37644
Navi Mumbai: Plot sold for record Rs 554,000 per sq m
https://www.constructionworld.in/latest-construction-news/real-estate-news/navi-mumbai--plot-sold-for-record-rs-554-000-per-sq-m/37641
