ASK Property Fund Invests Rs 245 Cr in Gurugram Housing Project
By Rediff Money Desk, New Delhi Jan 29, 2025 11:31
ASK Property Fund has invested Rs 245 crore in a housing project by Satya Group on Dwarka Expressway, Gurugram. The project comprises 500 units and has an aggregate revenue potential of Rs 1,600 crore.
![ASK Property Fund Invests Rs 245 Cr in Gurugram Housing Project](https://im.rediff.com/getahead/2024/feb/14real-estate-investment.jpg?fr=money)
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jan 29 (PTI) ASK Property Fund has invested Rs 245 crore in a housing project to be developed by Satya Group on Dwarka Expressway, Gurugram.
Satya Group will develop about 500 units in a 4.6-acre housing project, ASK said in a statement on Wednesday.
ASK Property Fund is a real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group.
With a total saleable area of around 12 lakh square feet, the project has an aggregate revenue potential of Rs 1,600 crore in the next five years.
"This marks another strategic investment in Gurgaon, reinforcing our stronghold in the NCR Market," Bhavin Jain, CIO, ASK Property Fund, said.
The proposed project comprises about 500 units targeting mid- and upper-mid-income segment buyers and will be spread across 4.6 acres.
The fund will be deployed for land acquisition and the project's working capital requirement.
"This project offers end-users and investors both a great opportunity to be a part of the most exciting micro market of Gurgaon, Dwarka Expressway. We are committed to delivering value to our customers," Manish Agarwal, Founder of Satya Group, said.
Satya Group has developed 100 lakh square feet of commercial and residential projects over the past four decades in Delhi NCR, Bangalore, Punjab, and Madhya Pradesh.
Satya Group will develop about 500 units in a 4.6-acre housing project, ASK said in a statement on Wednesday.
ASK Property Fund is a real estate arm of the Blackstone-backed ASK Asset & Wealth Management Group.
With a total saleable area of around 12 lakh square feet, the project has an aggregate revenue potential of Rs 1,600 crore in the next five years.
"This marks another strategic investment in Gurgaon, reinforcing our stronghold in the NCR Market," Bhavin Jain, CIO, ASK Property Fund, said.
The proposed project comprises about 500 units targeting mid- and upper-mid-income segment buyers and will be spread across 4.6 acres.
The fund will be deployed for land acquisition and the project's working capital requirement.
"This project offers end-users and investors both a great opportunity to be a part of the most exciting micro market of Gurgaon, Dwarka Expressway. We are committed to delivering value to our customers," Manish Agarwal, Founder of Satya Group, said.
Satya Group has developed 100 lakh square feet of commercial and residential projects over the past four decades in Delhi NCR, Bangalore, Punjab, and Madhya Pradesh.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 8.21 ( -5.09)
- 50736618
- AvanceTechnologies
- 0.64 ( -5.88)
- 23261214
- Srestha Finvest
- 0.63 ( -3.08)
- 17968849
- Vakrangee
- 16.71 (+ 4.96)
- 14316214
- G G Engineering
- 1.11 ( -4.31)
- 13184477
MORE NEWS
![Sebi Issues Rules...](https://im.rediff.com/80-80/money/2020/dec/29sebi1.jpg)
Sebi Issues Rules for Related Party Transaction...
Sebi introduces new industry standards for disclosure of related party transactions by...
![Antilia Bomb...](https://im.rediff.com/80-80/money/2017/nov/28pradeep.jpg)
Antilia Bomb Scare: Court Rejects Pradeep...
A special court in Mumbai has refused to discharge former police officer Pradeep Sharma...
![G Square Realtors...](https://im.rediff.com/80-80/getahead/2024/feb/14real-estate-investment.jpg)
G Square Realtors Expands in Coimbatore: New...
G Square Realtors has launched multiple projects in Coimbatore, including apartments...