ASK secures Rs.535 cr for low-cost units

In an attempt to ensure sufficient flow of funds for the affordable housing segment, the ASK Property has recently secured a staggering sum of Rs.535 crore to fund the realty projects in the segment, Managing Director and Chief Executive Officer, Amit Bhagat said that the latest is its seventh real estate fund from domestic high net worth individuals commanding a total corpus of Rs.2,000 crore. The objective of this would be to provide flexible and patient capital to the low cost housing projects across the country. This is also aimed at smoothening developers’ balance sheets as well as individual projects that are currently facing severe cash crunch. The fund will focus on investing in mid-segment and affordable residential projects, and generating sustainable risk-adjusted returns, he insisted.