ASK Property Investment Advisors (ASK PIA), the real estate private equity arm of the ASK group, has invested ₹200 crore in Kalpataru Group’s mid-income housing project in Baner, Pune which is an an ongoing mid-segment residential project, spanning across 16 acres with a saleable area of around 1.9 million sq. ft. comprising over 1,200 units across 1 to 3 BHK homes. “The project is in line with our strategy of providing funds to mid-income housing projects for mid/last mile execution and completion. This is our maiden exposure to the Kalpataru Group, which fulfils our criteria of strong brand reputation, in-house quality construction capabilities, and timely project delivery track record. We are delighted to partner with them, and we look forward to a long-term, mutually beneficial association,” said Amit Bhagat, CEO and MD, ASK PIA.
“The last couple of years have witnessed a consolidation of demand for homes to reputed, execution-focussed and large-scale developers. Affordable and mid-income housing has seen a substantial recovery and prices have bottomed out in the last one year, which has also led to sustainable demand. Decade-low home loan rates, concessions in stamp duty/premiums, and flexibility by developers have increased the affordability for home purchase,” said Sunil Rohokale, MD and CEO, ASK Group.
