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Construction : Web Exclusive | July 2014 | Source : Construction Update

Piramal Fund Management to buy apartments in bulk

Piramal Fund Management has said in early July that the its new Rs 350 crore Indiareit Apartment Fund, with an option to raise up to another Rs 350 crore has received Rs 100 crore commitment from ultra-rich individual investor category and companies that manage funds for a single family. The fund backed by Piramal Group has indicated that they are looking forward to buy residential apartments in bulk from developers at a heavily discounted rate to the market prices.
 
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