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True Habitat raises Rs 30 crore from CSL Finance, Real Estate News, ET RealEstate

True Habitat raises Rs 30 crore from CSL Finance, Real Estate News, ET RealEstate
NEW DELHI: True Habitat, an NCR-based real estate firm, has raised Rs 30 crore from CSL Finance. The funds were utilized to acquire a part of over 4.16 acres land in sector 79, Gurugram, the company said in a media release.

It will launch an affordable housing project having 650-700 apartments and 45,692 sq ft of commercial space on the acquired land parcel.

Shyamrup Roy Choudhury, managing director of True Habitat Group of Companies said, “We will launch around 3,500 apartments in 2022 starting with this project and the pre planning work is underway. More acquisitions will be done in 2022. Institutional capital partners like CSL are a cornerstone of our strategy as they bring the financial closure and a higher level of discipline in the process.”

The construction approvals for this project are under process and is slated to be launched by January 2022 under the Haryana Affordable Housing Policy, the company said.

Savills India are the advisors to True Habitat on planning a capital raise strategy including this project funding.

Diwakar Rana, MD, Capital Markets, Savills India said, “We are witnessing the green shoots of increased private equity participation on an institutional scale to develop urban social/ impact in the last decade buoyed by Government Policy initiatives.”


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