Market Sources, 2008-07-22
by India Research Team
Delhi, India
VCF/PRIVATE EQUITY
RED FORT CAPITAL JOINED HANDS WITH KG FOUNDATIONS
According to Financial Chronicle, Red Fort Capital and KG foundations signed a joint development agreement to develop Rs 250-crore gated residential community project on an 11-acre land parcel in Chennai.
The land was acquired by Red Fort last year in western suburb of the Chennai. The project will consist of 1,000 residential apartments ranging between 850 sq ft – 1,400 sq ft. The expected price range will be 20 lakh – Rs 40 lakh and the target customers will be middle income group.
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