Golden Growth Fund, a prominent Alternative Investment Fund (AIF) focused on real estate, has announced plans to raise ₹400 crore to spearhead the development of high-end residential projects in South Delhi. The fund, a Category 2 AIF, has already successfully closed its initial funding round, securing ₹25 crore.
This initial capital injection will be directed towards acquiring a prime land parcel in South Delhi, marking the inaugural project in Golden Growth Fund’s ambitious strategy to transform the luxury real estate market in the national capital. Grovy India Ltd, a well-regarded developer with over 100 completed projects in Delhi, will undertake the construction for this venture. In a statement, the CEO of Golden Growth Fund highlighted the significance of this first closing, noting that it represents a crucial milestone in their endeavour to reshape the luxury residential landscape. “Our initial funding achievement sets the stage for acquiring premium land in South Delhi. We are poised to enhance our position in the market, and subsequent funding rounds will bolster our capabilities,” the CEO remarked.
Golden Growth Fund is concentrating its efforts on real estate opportunities within Delhi, with a particular focus on the high-profile areas of South Delhi and Lutyens’ Delhi. The fund’s strategy aims to tap into the growing demand for upscale residential properties in these prestigious locales. The fund’s focus on South Delhi aligns with the region’s status as a coveted address for luxury living, promising substantial returns for investors and contributing to the ongoing evolution of Delhi’s real estate sector.
