Xander Advisors India has invested Rs 280 crore in a Pune realty project. The residential project is of realty developer, Kumar Urban Development.
The proposed project at Karve Road, a central part of the city, is estimated to have one million sq ft of saleable space.
The deal was closed last week. It will be a structured transaction, which includes private placement of non-convertible debentures (NCDs). Recently, Aditya Birla Real Estate Fund invested Rs 150 crore in Bengaluru-based realty developer Ozone Group through non-convertible debentures.
Xander Advisors India will utilise the money for developing a slum rehabilitation project in Pune and is working on configurations and pricing of the apartments.
Presently, Kumar Urban Development is selling 32 projects, of which 18 are under development, spread over 6.2 million sq ft in Pune and Mumbai.
More Project Info:
Residential Complex (Karve Road) [45 Nirvaana Hills]