Amplus Capital invests Rs35 crore in Jain Heights’ residential project
The proposed residential project, which is in design stage now, will have a saleable area of 6.5 lakh sq. ft.
Bengaluru: Amplus Capital Advisors Pvt. Ltd has invested around Rs35 crore in Bengaluru-based real estate firm Jain Heights and Structures Pvt. Ltd’s upcoming residential project in the city’s Yeshwantpur area.
Amplus Capital is promoted by Sanjay Lalbhai, chairman of textile company Arvind Ltd.
“The money will be primarily used to acquire the land for the project and some of it is for pre-construction financing, that includes getting approvals etc. It is a pure equity transaction," said Kishore Kumar, managing director, Jain Heights and Structures.
The proposed residential project, which is in design stage now, will have a saleable area of 6.5 lakh sq. ft.
Anuranjan Mohnot, chief executive, Amplus Capital Advisors said in a statement, “The Fund believes that the end-consumer driven, Bangalore residential real estate market should see high growth on the back of increasing urbanization, changing demographics and an up-turn in the economy."
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