Golden Growth and Grovy to Fund Rs 180 Crore in South Delhi Housing Projects
Golden Growth Fund (GGF) and Grovy India are set to invest Rs 180 crore in three housing projects in South Delhi, leveraging the stable and lucrative real estate market in the area.
Real EstateSouth DelhiGolden Growth FundGrovy IndiaHousing ProjectsReal Estate NewsMay 29, 2025
The investment has been made in Anand Niketan and Neeti Bagh, while the third project, in another Category A colony in South Delhi, is expected to come up in the next four months. The cumulative area of the three projects is about 70,000 square feet. Construction on the project in Anand Niketan commenced in January 2025, while the same in Neeti Bagh will begin next month.
The sales potential of the three projects is estimated to be around Rs 240 crore. Ankur Jalan, CEO of Golden Growth Fund, stated, 'These investments in South Delhi reiterate our commitment to developing and delivering not just high-quality projects but also ensuring a safe and stable 20 per cent plus IRR to our investors.' The non-volatile nature of the South Delhi real estate market has led to increased investment, he added.
South Delhi has around 18,500 privately owned residential plots, categorized as A, B, C, and others by the MCD. The current market value of these plots is Rs 5.65 lakh crore, providing a significant opportunity for project development. The average price of plots in Category A colonies ranges from Rs 7-15 lakh per square yard, while the average price in Category B colonies ranges from Rs 6-12 lakh per square yard.
Golden Growth Fund launched a real estate-focused AIF in September 2024 with a commitment to raise Rs 400 crore to acquire land in South and Lutyens Delhi. Listed entity Grovy India Limited was established in 1985 and has since then developed and delivered over 100 luxury projects in South Delhi. The company's extensive experience in the region makes it a reliable partner for such significant investments.
This collaboration between Golden Growth Fund and Grovy India is poised to capitalize on the robust real estate market in South Delhi, offering both high-quality residential options and attractive returns for investors.
Frequently Asked Questions
What is the total investment by Golden Growth Fund and Grovy India in the South Delhi housing projects?
The total investment by Golden Growth Fund and Grovy India in the South Delhi housing projects is Rs 180 crore.
How many housing projects are being developed in South Delhi by Golden Growth Fund and Grovy India?
Golden Growth Fund and Grovy India are developing three housing projects in South Delhi.
What is the cumulative area of the three housing projects?
The cumulative area of the three housing projects is about 70,000 square feet.
What is the estimated sales potential of the three housing projects?
The estimated sales potential of the three housing projects is approximately Rs 240 crore.
When did Golden Growth Fund launch its real estate-focused AIF?
Golden Growth Fund launched its real estate-focused AIF in September 2024.
Related News Articles
India's Real Estate Sector Pins Hopes on Union Budget 2024
The upcoming budget is expected to boost sentiment in the housing sector by introducing measures that benefit homebuyers and real estate developers, improving infrastructure funding in cities like Thane.
RERA: A Beacon of Hope for Homebuyers in India
RERA authorities have resolved over 1.25 lakh consumer complaints across India, marking a significant milestone in the country's real estate sector.
Voting Trends: Ruchir Sharma's Insights on Maharashtra and Jharkhand Elections
Renowned global investor Ruchir Sharma offers his analysis on the recent political shifts in Maharashtra and Jharkhand, highlighting the surprising gains made by the Maha Vikas Aghadi and the implications for the future.
Top 5 Real Estate Market Wishes for Budget 2025
The Indian real estate market is on the cusp of significant transformation, driven by evolving market trends and changing customer preferences. Here are the top 5 expectations from the 2025 budget that could propel the sector to new heights.
DOGE's Behest Could Lead to Closure of Numerous Federal Offices, Internal Records Show
Internal documents from the General Services Administration (GSA) reveal a potential large-scale closure of federal offices, following DOGE's directives. The move could affect dozens of locations and hundreds of federal employees.
Maharashtra Promotes Precast Construction to Tackle Mumbai's Air Pollution
The Maharashtra government is incentivizing real estate developers to adopt precast construction methods to mitigate air pollution in Mumbai, offering various benefits for off-site manufacturing.