Golden Growth Fund & Grovy India to Transform South Delhi Realty

Golden Growth Fund (GGF) and Grovy India have announced a substantial investment of Rs 180 crore in the development of three housing projects in South Delhi. GGF, categorized as a category II real estate-focused Alternative Investment Fund (AIF), dedicates its investments to South Delhi developments.

The investment has been made in the regions of Anand Niketan and Neeti Bagh, with a third project scheduled in another sought-after colony in South Delhi within the next four months. The cumulative estimated sales potential of these projects is approximately Rs 240 crore, covering a total construction area of about 70,000 square feet.

According to Ankur Jalan, CEO of GGF, this investment marks their commitment to delivering high-quality projects while ensuring a stable IRR of over 20% to investors. With the non-volatile nature of South Delhi's real estate market, the area is attracting significant investment interest.

(With inputs from agencies.)