Golden Growth Fund, an Alternative Investment Fund (AIF) with a focus on real estate, is set to raise Rs 400 crore to acquire land and develop real estate projects in Delhi. The fund, categorized as a Category 2 AIF, announced that it has already raised Rs 25 crore in its first funding round, completed last month.
The initial funds will be allocated for the acquisition of a prime land parcel in South Delhi. This acquisition marks the fund’s first project under its strategic plan to develop high-end residential properties in the area. Grovy India Ltd, a company with over 100 real estate developments completed in Delhi, has been appointed to construct the project.
According to Ankur Jalan, CEO of Golden Growth Fund, the completion of the first funding round represents a critical step in the company’s strategy to expand in Delhi’s luxury real estate market. “We are focused on acquiring and developing premium land parcels in South Delhi, and we expect our ongoing funding efforts to further enhance our position in the market,” he stated.
Golden Growth Fund plans to concentrate exclusively on real estate opportunities in Delhi, particularly in the South and Lutyens’ Delhi areas.
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By Proptechbuzz
By Ravi Kumar
