Shriram partners Int funds for Rs 5,000 cr township
Shriram Properties Ltd has tied up with funds of Walton Street Capital and Starwood Capital Group to develop a Rs 5,000 crore township on Hindustan Motors Uttarpara property.
By PTI |
KOLKATA: Shriram Properties Ltd has tied up with funds of Walton Street Capital and Starwood Capital Group to develop a Rs 5,000 crore township on Hindustan Motors Uttarpara property.
HM signed an MoU with Shriram Properties for real estate development on 314 acre excess land at Uttarpara in Hooghly district, about 12 km from Kolkata.
A Shriram Properties statement said the development would encompass 20 million square feet of residential, retail, office and civic space.
HM had earlier said that it would hand over 314 acre in Uttarpara over the next two years to Bengal Shriram High Tech City Ltd, a joint venture with Shriram Properties Ltd of Bangalore with the auto company.
HM would hold a minority stake in the venture.
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"We are excited to be partnering Walton Street Capital and Starwood Capital. Both investing in this project will help shape the future of Kolkata real estate," Shriram Properties managing director M Murali said. Start a SIP with as low as ₹500 with ET Money App!
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