Inno A global investment group focused on real estate, Inno, is planning to invest around $150 million in various residential projects in the country in the next six to seven years.
This was stated by Rajamannar Ramaswamy, group managing director, Inno Group Holdings Limited, while addressing reporters at the launch of Inno GeoCity near Chennai. Inno Geocity is a Rs 7.5 billion flagship residential project, spread over an area of 131 acres, with 4 million square feet built-up area.
He further said that the real estate company had already raised $200 million so far and invested $50 million in three projects including a hotel project and residential projects in Chennai, and a villa project at Coimbatore.
Inno Group is a global investment group focused on real estate with operations in Europe, Middle East and India.
Inno Investments has raised four India-focused real estate private equity (PE) funds and the group has funded six projects in India with a total gross development value (GDV) of Rs 26 billion, in an area of over 14 million square feet.
On resources, Ramaswamy said that for every project, the company was approaching investors. “So far, we were investing in projects and were operating in joint venture model. Since we got the expertise now, upcoming projects will be undertaken on our own,” he added.
The project will be developed in phased-manner over the next four to five years with around 4,000 residential units. The first phase with 1,000 units would be ready for possession in the next 18 months, said managing director, Inno Geocity, Sajid Sathak.
The company is currently engaged in negotiations with a number of European real estate developers seeking to enter the lucrative Indian real estate market. The group is seeking for joint venture (JV) with Indian companies.
This was stated by Rajamannar Ramaswamy, group managing director, Inno Group Holdings Limited, while addressing reporters at the launch of Inno GeoCity near Chennai. Inno Geocity is a Rs 7.5 billion flagship residential project, spread over an area of 131 acres, with 4 million square feet built-up area.
He further said that the real estate company had already raised $200 million so far and invested $50 million in three projects including a hotel project and residential projects in Chennai, and a villa project at Coimbatore.
Inno Group is a global investment group focused on real estate with operations in Europe, Middle East and India.
Inno Investments has raised four India-focused real estate private equity (PE) funds and the group has funded six projects in India with a total gross development value (GDV) of Rs 26 billion, in an area of over 14 million square feet.
On resources, Ramaswamy said that for every project, the company was approaching investors. “So far, we were investing in projects and were operating in joint venture model. Since we got the expertise now, upcoming projects will be undertaken on our own,” he added.
The project will be developed in phased-manner over the next four to five years with around 4,000 residential units. The first phase with 1,000 units would be ready for possession in the next 18 months, said managing director, Inno Geocity, Sajid Sathak.
The company is currently engaged in negotiations with a number of European real estate developers seeking to enter the lucrative Indian real estate market. The group is seeking for joint venture (JV) with Indian companies.
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