Deal typeLast mile funding with assured returns ; 2 X collateral
Built Up Area~400,000 sq.ft.
Project typeMid Segment Residential Project
Product Mix2,3,4 BHK apartments
Investment commitment dateNov' 16
Current statusConstruction in full swing; PMC appointed to monitor construction
The deal is in the form of a last mile funding with assured returns in an almost completed project in the heart of Kharadi, a well established IT hub of Pune. The building structure is ready and the construction is expected to be completed in next 6 months. The Fund has secured the project with 2X collateral.
One of the oldest and renowned developers of Pune, Darode - Jog Properties has delivered more than 2.5 mn sq.ft of built - up space and has another 1.8 mn sq.ft in the pipeline. Other financial partners of the group include Piramal Group, ASK and LIC.