SMC Global and IM Capitals Ltd have formed a joint venture to launch their maiden US$ 75 million fund exclusively for Indian real estate market with a green shoe option of up to US$ 75 million. SMC Global and IM Capitals are the principal sponsors of the fund. The fund will be forming an investment committee that will comprise of investors.
Realty firm Signature Global, which is into development of affordable homes, will invest Rs 500 crore to develop two housing projects in Gurgaon as the company expects better demand after the government announced an interest subsidy under the Pradhan Mantri Awaas Yojna.
The Ministry of Housing and Urban Poverty Alleviation will discuss with the states the policy measures being taken by them to promote affordable housing projects for the benefit of economically weaker sections (EWS) and low income groups (LIG).