Indian realty has emerged as the apple-eye of domestic and overseas investors as listed and private equity funds are looking to pump in more than Rs 32,000 crore in the real estate sector, a new report stated.
“The transparency in real estate has contributed to the increase in interest by domestic and financial institutions, resulting in greater availability of financing for real estate developers,” an ICICI Property Services-Technopak paper said. This has proved to be the right impetus for listed funds such as Hiranandani Group's Hirco, Unitech Corporate Parks, Indiabulls' Dev Property Development. A host of others like Trinity capital, Yatra capital and West Pioneer Properties among others have raised around Rs 11,000 crore from overseas markets, mainly London, the report said. Another Rs 21,000 has been raised by domestic and global private equity funds. These include local funds like Urban Infrastructure Opportunities and Solitaire I.
Source : FT