Axis AMC invests Rs 65 crore in an Affordable Housing Project with Adarsh Developers.

By Abhay Shah

The real estate fund of Axis Asset Management Company, Axia RERA Opportunities Fund – I, has signed a deal with Bangalore-based real estate developer Adarsh Developers to invest Rs 65 crore. This is the second investment of the alternative investment fund for the maiden real estate of Axis AMC.

The investment is being made in Halnayakahalli, South-east Bangalore for a planned affordable residential project off Sarjapur Road. The project will be completed in 2 phases, with more than 600 units ranging from Rs 30 lakhs to Rs 47 lakhs. Axis RERA Fund recently invested Rs 60 crore in an Akshaya Developers project in Chennai.

“Government initiatives in recent months reaffirm our fund management approach in the present market environment in the mid- to an affordable segment of housing,” says Balaji Rao, Managing Partner, Axis AMC Real Estate.