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Business News/ Companies / News/  JLL’s realty fund invests in Chennai residential project
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JLL’s realty fund invests in Chennai residential project

The project, Skypod, is located on the Pallavaram-Thoraipakkam Radial Ring Road in Chennai

An artist’s representation of the Skypod Apartments project. Photo: Vishwakarma PropertiesPremium
An artist’s representation of the Skypod Apartments project. Photo: Vishwakarma Properties

Bengaluru: JLL India’s investment arm Segregated Funds Group has invested 25 crore in a residential project in Chennai, which is being developed by Vishwakarma Real Estates & Constructions (I) Pvt. Ltd, the fund said on Wednesday.

The investment has been done from Residential Opportunities Fund-I, the maiden fund of Segregated Funds Group. With this, it has deployed about 80% of its 161-crore fund corpus.

The project, Skypod, is located on the Pallavaram-Thoraipakkam Radial Ring Road in Chennai. “Pallavaram in Chennai has been gaining preference from home buyers as it is conveniently located nearer to the airport and OMR (Old Mahabalipuram Road) that has various IT parks, hospitals, educational institutions and shopping centres. The area is growing rapidly because of the development of good infrastructure," Mridul Upreti, chief executive, JLL Segregated Funds Group, said in a statement.

“We see value in investing in mid-market projects being developed by niche players in the given market," he added.

“This partnership will further accelerate our firm’s footprint in the region," said C. Shankar, managing director, Vishwakarma Real Estates & Constructions.

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Published: 27 May 2015, 05:37 PM IST
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