Century Group gets ₹120 cr for housing projects

Altico Capital, a non-banking financial player of global repute recently invested ₹120 crore in an affordable housing project of Bengaluru-based developer Century Group. The money will be invested in recently-launched project in northern Bengaluru named as Christened as Century Greens, the project has plots in the range of ₹25-50 lakh. The deal marks the second transaction between the lender and the developer. The chief executive officer of Altico Capital, Sanjay Grewal said that the company is delighted to partner again with a strong group like Century and that the e new investment fits into its philosophy of investing in affordable and mid-market projects ticket sizes of below ₹50 lakh. The company also said that it had recently sanctioned a facility of ₹450 crore across five transactions in the city, thereby, underwriting a saleable area of 6.3 million square feet. Of the total number of projects, one is brown field and the rest are green field mid-income and affordable residential projects spread across north, northeast and Whitefield areas of Bengaluru.