Millennium Spire (MSL) on Friday announced the launch of its second fund dedicated to investing in Indian real estate opportunities under prevailing FDI guidelines.
The company envisages a pan-India investment plan in excess of $1 billion (close to Rs 4,000 crore) over a period of time with a clear focus on South India and other key geographies, including national capital region (NCR), said Ashish Bhalla, managing director, Millennium Spire.
Some key factors that have propelled the presence of Millennium Spire are the attractive opportunity that is offered by India and huge investment opportunities in the real estate and infrastructure domains.
Further, the Indian real estate scenario is entering a more mature phase, characterised by projects that will be planned for actual end-users, rather than for speculative investors.
?We believe efficient delivery of value engineering shall be a major focus going forward, moving away from a purely land based approach.
The industry is, of course, characterised by historical challenges, which we believe present an opportunity and Millennium Spire is uniquely positioned to address these challenges and leverage opportunities,? he added.
Millennium Spire believes it has a key role to play in
India?s real estate and infrastructure development by bringing best global practices and innovation into mainstream development.
?We subscribe to an equitable and pluralistic approach to investing in real estatedevelopment – one that offers value for money, is affordable and we are currently working on projects across income groups
All of MSL?s projects reflect its ?Mainstream Green? ideology, and shall serve as modelexamples for the industry,?he said.