Golden Growth Fund Aims to Transform Delhi's Luxury Real Estate

Golden Growth Fund, a real estate Alternative Investment Fund (AIF), plans to raise Rs 400 crore to develop high-end residential properties in Delhi. They secured Rs 25 crore in the first funding round to acquire a prime land parcel in South Delhi. Grovy India Ltd will handle the construction.

Golden Growth Fund, a real estate-focused Alternative Investment Fund (AIF), has announced plans to raise Rs 400 crore from investors with the objective of buying land and developing luxury real estate projects in India's capital.

In a statement, the Category 2 AIF revealed it secured Rs 25 crore during its initial funding round, which concluded last month. This initial capital will be used to acquire a prime land parcel in South Delhi.

The fund's first project focuses exclusively on developing high-end residential properties, with Grovy India Ltd handling the construction. CEO Ankur Jalan emphasized the significance of the initial funding as a major step toward transforming Delhi's luxury real estate landscape. Future funding efforts aim to solidify their market position, particularly in South and Lutyens' Delhi.

(With inputs from agencies.)