ASK earmarks Rs.1,000 cr for affordable units

    ASK group
    In a recent development, the financial services firm ASK group has decided to invest over Rs.1,000 crore as private equity in housing projects this fiscal. The company, which invested Rs.700 crore in last fiscal, expects more opportunity in the real estate sector after the implementation of the new realty law and the GST, said official sources elaborating that it is planning to invest in the mid-segment and affordable housing segment in 2017-18. The company is convinced of the opportunity due to ensuing consolidation in the sector after introduction of RERA and GST. There is a room for only serious, committed, customer-centric and well capitalize player in the sector. ASK Property Investment Advisors is a venture of the ASK group set up to manage and advise real estate dedicated funds. It mainly invests in housing projects in six major cities- Delhi-NCR, Mumbai, Pune, Bengaluru, Chennai, and Hyderabad and the company has already invested about Rs.300 crore during this fiscal and it has a healthy pipeline of projects for the immediate future.
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