S. Properties-KAHF inks JV for affordable housing

Bengaluru-based residential real estate developer has entered into a partnership with Kotak India Affordable Housing Fund-I (KIAHF) for development of its next phase of affordable housing project - Shriram Grand 2 - coming up as part of Shriram Grand City at Uttarpara in Kolkata. As per the terms and conditions of the partnership, KIAHF will invest about Rs. 40 crore towards 50 percent economic interest in the proposed development. The housing project with over 3,000 units and aggregate saleable area of over 2.1 million sq ft, is being developed by the builders’ wholly owned subsidiary and will be launched shortly as part of Shriram Grand City, an integrated township with over 33 million sq.ft. As part of the township, Shriram Properties is already building Shriram Grand 1 comprising of about 2,300 units with aggregate saleable area of around 2 million sq ft, a substantial part of which has already been sold, informed CMD, Shriram Properties, M Murali.