Omkar Realtors receives funds from Indiareit Fund Advisors
Omkar Realtors & Developers has received financial assistance of Rs 150 crore from Indiareit Fund Advisors for a residential project in Mumbai, Maharashtra.
Both the firms have already signed the term sheets for the equity component of the project. The slum rehabilitation project, located in Powai suburb of Mumbai, is estimated to have a saleable area of around 2.5 million sq ft.
All major approvals for the project, apart from the equity funding, have already been obtained by the developer, who is looking to raise debt to part finance the development later.
Omkar Realtors & Developers has received financial assistance of Rs 150 crore from Indiareit Fund Advisors for a residential project in Mumbai, Maharashtra.
Both the firms have already signed the term sheets for the equity component of the project. The slum rehabilitation project, located in Powai suburb of Mumbai, is estimated to have a saleable area of around 2.5 million sq ft.
The company is developing the project in various phases. Phase-I involves rehabilitation of 2,400 slums spread over 15 acre. Omkar Realtors intends to launch the project in the next six months. The residential project will comprise one and two bedroom apartments.
All major approvals for the project, apart from the equity funding, have already been obtained by the developer, who is looking to raise debt to part finance the development later.
Source :- ProjectsToday.Com
0 comments