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New Delhi: SPL Housing Projectsis a wholly owned subsidiary of Shree Ram Guna (SPL) has acquired Golden Era, a plotted development project Golden Gates GroupIt was a stressed asset with the lending institutions IIFL Groupthe company said in a media release.
The transaction involves capital commitment of up to Rs 125 crore for the acquisition and development of the project. SPL plans to rename the project and launch Shriram Pristine Estates,
The company’s Chairman and Managing Director Murali M said, “This is another successful acquisition of stressed assets by us in recent months. This addition will strengthen our launch pipeline for FY23.”
the project is located DodballapurAnswer Bangalore The total salable area is around 10 lakh sq.ft. It already has necessary approvals and infrastructure development is partially completed.
This will also be the first investment under the recently concluded co-investment platform jointly set up between SPL and ASK Property Fund.
Under the platform, the partners plan to co-invest up to Rs 500 crore and co-invest in plotted and residential development projects in Bengaluru, Chennai and Hyderabad.
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