One of the leading premier real estate developers of Bengaluru for the past 28 years, Adarsh Developers specializes in delivering finest residential and commercial properties. The company seals to rise nearly Rs. 1000 crore funding from from three key investors. This fund attainment is expecting to be crucial for the company as it will help the property developer start a new range of residential properties.
Adarsh developers have already signed a set of agreements to raise Rs. 350 crore from Edelweiss Group and HDFC Realty Fund.
The left over fund Rs. 250 crore is projected to rise from the non-banking finance group Altico Capital. Adarsh developers rose more than Rs. 300 crore funding from the investment bank JM Financial towards the end of the last year.
Within this fund revenue, Adarsh developers will utilize this resource to commence the construction of more than 5 residential projects in the outer ring road. These planned projects are under the process for clearances and land acquisition.
Adarsh developers are waiting for the statement of new TDR (Transferable Development Rights) policy. The new TDR policy refers to the approval for additional build up area to the land owner in return for the plot portion acquired for a public project.
Commenting on this, Altico Capital said that the company is planning to drop more than Rs. 5,000 crore in residential properties in major cities including Mumbai, NCR, Bengaluru and Pune by end of the fiscal year.
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