Kotak Realty Fund invests Rs 110 crore in TDI’s project in Kundli

NEW DELHI: Kotak Realty Fund has invested Rs 110 crore in a 29-acre group housing project being developed by the TDI Infrastructure in Kundli, Sonepat, in the national capital region. This is the first private equity investment in a project being developed by the company.

“The group housing is part of a larger 1,200 acre township that we are developing in Kundli,” says Kamal Taneja, managing director, TDI Infrastructure. The township is located just 6 kilometres from the northern part of Delhi.

The region of Sonepat came into focus recently in this year’s railway budget in which a new rail coach factory was proposed in the area. This is expected to create jobs in and around the area and will improve the development of the region.

In the last few years Gurgaon has seen a huge amount of development but prices in the city have gone beyond the reach of the common man. A number of developers, including TDI have been focussing on offering affordable homes in areas beyond Gurgaon where new job opportunities are getting created.

“There is a shortage of 25 million homes in the country, especially in the middle income level. We want to do volumes here in Kundli to offer the right product at the right price to homebuyers,” says Taneja.

The company is now in the process of acquiring more land in various parts of the national capital region to develop similar integrated township that will span at least 100 acres of land. TDI Infrastructure has townships in Panipat, Chandigarh, Mohali, Jalandhar, Moradabad and Agra.