ASK invests Rs 200 cr in budget housing projects in Pune
Real Estate

ASK invests Rs 200 cr in budget housing projects in Pune

A venture of the ASK Group, ASK Property Investment Advisors (ASK PIA) has invested Rs 200 cr in the housing projects of real estate Kalpataru Group in Baner, Pune.

Being ASK’s first investment in Kalpataru Group, a part of the fund will replace the present lender and the rest will be utilised as its working capital. The mid-class residential project extending to 16 acre is under progress and consists of one to three BHK homes in a land of market-worth 1.9 million sq ft of over 1,200 units.

Baner being a residential-industrial region has developed as an IT employment hub that comprises -- IT parks of about 13 million sq ft, office complexes including RMZ Icon and Panchshil Business Park.

MD and CEO of ASK Group Sunil Rohokale has cited that the last couple of years have witnessed a consolidation of demand for homes to reputed, execution-focused and large-scale developers.

He also mentioned that there has been a substantial recovery in affordable and mid-income housing and prices that bottomed out last year led to this sustainable demand. He further added that the decade-low home loan rates, concessions in stamp duty and flexibility have increased the affordability for house purchase. This could boost up the work of near to complete projects that are affordable and have financial closure, says Rohokale.

As part of recovery from the previous year lockdown, ASK PIA invested Rs 125 cr in Gulshan Homz’s Noida project in October.

Image Source


Also read: Affordable housing keeps real estate sector afloat: PropTiger

A venture of the ASK Group, ASK Property Investment Advisors (ASK PIA) has invested Rs 200 cr in the housing projects of real estate Kalpataru Group in Baner, Pune. Being ASK’s first investment in Kalpataru Group, a part of the fund will replace the present lender and the rest will be utilised as its working capital. The mid-class residential project extending to 16 acre is under progress and consists of one to three BHK homes in a land of market-worth 1.9 million sq ft of over 1,200 units. Baner being a residential-industrial region has developed as an IT employment hub that comprises -- IT parks of about 13 million sq ft, office complexes including RMZ Icon and Panchshil Business Park. MD and CEO of ASK Group Sunil Rohokale has cited that the last couple of years have witnessed a consolidation of demand for homes to reputed, execution-focused and large-scale developers. He also mentioned that there has been a substantial recovery in affordable and mid-income housing and prices that bottomed out last year led to this sustainable demand. He further added that the decade-low home loan rates, concessions in stamp duty and flexibility have increased the affordability for house purchase. This could boost up the work of near to complete projects that are affordable and have financial closure, says Rohokale. As part of recovery from the previous year lockdown, ASK PIA invested Rs 125 cr in Gulshan Homz’s Noida project in October. Image SourceAlso read: Affordable housing keeps real estate sector afloat: PropTiger

Next Story
Infrastructure Energy

Greaves Electric Mobility Files for IPO

Electric-vehicle manufacturer Greaves Electric Mobility has announced plans to raise Rs 10 billion through an initial public offering (IPO), as stated in its draft papers filed. The company, recognised for its 'Ampere' brand of electric scooters, also produces three-wheelers under a separate brand. Greaves Electric’s major shareholders, Greaves Cotton—a publicly listed entity—and investment firm Abdul Latif Jameel Green Mobility Solutions, will collectively sell approximately 189.4 million shares through the IPO. This move positions Greaves Electric alongside larger competitor Ather En..

Next Story
Infrastructure Energy

IREDA Approves Rs 30 Billion for Odisha's Renewable Energy Projects

Indian Renewable Energy Development Agency (IREDA) has approved funding exceeding Rs 30 billion for renewable energy projects in Odisha as the state strives to achieve its goal of 10 GW capacity by 2030. Pradip Kumar Das, Chairman and Managing Director of IREDA, shared this update during the Odisha Solar Investor Conclave organised by GRIDCO. He emphasised that accessible financing is crucial to fostering the adoption of renewable energy. Das outlined IREDA's significant contributions to funding renewable energy projects in Odisha, spanning sectors such as solar, hydro, ethanol, and renewable..

Next Story
Infrastructure Energy

Oil Prices Rise Amid Light Pre-Christmas Trading

Oil prices edged higher during light trading ahead of the Christmas Day holiday. The increase was attributed to positive US economic data and growing oil demand in India, the third-largest importer of oil globally. Brent crude futures rose by 33 cents, or 0.45 per cent, to reach $72.95 per barrel, while US West Texas Intermediate (WTI) crude futures gained 29 cents, or 0.42 per cent, settling at $69.53 per barrel as of 0114 GMT. Economic indicators in the United States highlighted a surge in new orders for key manufactured capital goods in November, driven by robust demand for machinery. Add..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000