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Red Fort geared up to pour Rs. 3500 Billion in Realty sector shortly

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As per the source claiming @ the www.propertykhazana.com Red Fort Capital, Global PE fund is considering to pour in Rs. 3500 crores in the Indian realty ventures in the coming financial year. In this regard, Red Fort has initiated a domestic fund some time back and expected to rise about Rs. 1000 crores. Red Fort is planning to invest on non FDI ventures. Of total Rs. 3500 crores raised, Red Fort Capital has decided to invest Rs. 1100 crores on several realty ventures.
The revealed information with the www.propertykhazana.com is that, Red Fort Capital has sophisticatedly planned the budget and allocation of funds and 50% is spared for residential ventures and up to 15% each for logistics, commercial ventures, IT Parks. Meantime, the group is engaged in the execution of the proposed ventures and the construction of Prestige’s venture in Bangalore and Indu Projects ventures in Hyderabad, Chennai and Delhi are in progress.
In a verbal communication with the www.propertykhazana.com Mr. Kuldip Chawlla, Director, Red Fort Capital said that “Red Fort is only eyeing the projects which will see high appreciations and would worth up to Rs. 10,000 crores in the near time. He also added that RFC is in end stages of talks on economy hotel chains and if all goes fine, then Red Fort Capital having land bank of 1000 in cities like Pune, Delhi, Mumbai, Kolkata and Hyderabad will implement hospitality projects.
Source: NBTVLIVE

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