Motilal Oswal Private Equity’s real estate investment arm, Motilal Oswal Real Estate (MORE), has invested Rs 113 crore in an ongoing residential project of Mumbai-based developer, Rajesh Lifespaces, by subscribing to listed non-convertible debentures (NCD), as per a disclosure note.
The investment has gone to special purpose vehicle (SPV) Rajesh Estates and Nirman, a group company of Rajesh Lifespaces. The funds will be utilised for completion of Raj Grandeur, an ongoing residential project located in Powai, Mumbai.
Raj Grandeur is spread across three wings in a 30-storey tower which offers three and four BHK apartments.
Other ongoing projects of the developer include White City (Kandivali (E)), Raj Tattva (Thane (W)), Raj Infinia (Malad (W)), Raj Torres (Thane (W)), and Raj Altezza (Mulund (W)).
More Project Info:
Residential Complex (Powai) [Raj Granduer]
Residential Complex (Kandivali) [White City]
Residential Complex (Kapurbawdi Junction) [Raj Tattva]
Residential Complex (Malad) [Raj Infinia]
Residential Complex (Raj Torres) [Thane]