Golden Growth Fund & Grovy India to Transform South Delhi Realty

Golden Growth Fund and Grovy India will invest Rs 180 crore in developing three housing projects in South Delhi. The initiative underscores the region's stable real estate market, offering a safe investment with an impressive sales potential of Rs 240 crore over a cumulative area of 70,000 square feet.

Golden Growth Fund (GGF) and Grovy India have announced a substantial investment of Rs 180 crore in the development of three housing projects in South Delhi. GGF, categorized as a category II real estate-focused Alternative Investment Fund (AIF), dedicates its investments to South Delhi developments.

The investment has been made in the regions of Anand Niketan and Neeti Bagh, with a third project scheduled in another sought-after colony in South Delhi within the next four months. The cumulative estimated sales potential of these projects is approximately Rs 240 crore, covering a total construction area of about 70,000 square feet.

According to Ankur Jalan, CEO of GGF, this investment marks their commitment to delivering high-quality projects while ensuring a stable IRR of over 20% to investors. With the non-volatile nature of South Delhi's real estate market, the area is attracting significant investment interest.

(With inputs from agencies.)