Fund raising

Mumbai-based real estate developer, Rodium Realty Ltd., has raised Rs 36 crore in the form of structured debt from Capri Global Capital Ltd., a Mumbai-based NBFC, to support the project’s construction. JLL was the advisor for the transaction.

The investment is for a premium mixed-use redevelopment project, X'point, located on S.V. Road in Kandivali West, Mumbai. The project consists of prime retail shops on S.V. Road and premium 2 and 3 BHK residences. The funds will be used to accelerate construction and to speed up the delivery timeline.

Capri Global Capital Limited (CGCL) is one of the leading Non-Deposit Accepting, Non-Banking Financial Company (NBFC-ND-SI) in the country. Over the past few years, it has been offering various customized solutions to real estate developers and SME businesses. 

“This investment is in-line with our focus on funding to mid- affordable housing segment, the idea is to extend financial support customised to the needs of today’s mid-sized developers focused in affordable to mid segment, in order to help them pace up sales and deliver projects in a timely manner while maintaining the highest quality. Rodium is growing developer and our association will help their project X'point, located in Kandivali West, to meet targeted timelines,” said Rajesh Sharma, Director, Capri Global Capital Ltd.

‘Ghar Utsav by PNB Housing Finance Limited

PNB Housing Finance Limited will be organising ‘Ghar Utsav — The Dream Home Expo’, on February 25 and 26 in New Delhi.

This one-of-its-kind event is aimed at bringing prospective homebuyers and prominent real estate developers on a common platform in an effort to consolidate the market. Prominent developers of Delhi-NCR likes ATS, Mahagun, Saya, Lotus Greens, Vatika, Panchsheel, Omaxe and Gaurs, will be offering their products and attractive deals to future home owners.

Speaking about the exhibition Sanjaya Gupta, MD, PNB Housing Finance Limited said, “In the two day Ghar Utsav expo, we intend to offer the walk in customers rate of interest which is as low as 8.5 per cent p.a. and zero processing fees coupled with some very attractive offers by reputed real estate developers. The Delhi edition shall be the flagship event for us and it is slated to be an annual, pan India event in the future”. The exhibition will feature properties starting from Rs 20 lakh and will provide a complete digital experience for delegates and attendees

NoBroker.com to expand to 5 more cities this year 

Bengaluru-based property listing site NoBroker.com is planning to enter Delhi, Noida, Hyderabad, Kolkata and Ahmedabad this year, a top company official said earlier this week. Launched in March 2014, NoBroker is currently present in five cities — Mumbai, Pune, Bengaluru, Chennai and Gurugram.

“After the recent demonetisation and overall cautious market sentiment, the rental real estate has picked up significantly. Today, real estate is no longer an investor market but is driven by end-users.

“We see this as a right opportunity to expand our presence in other cities as well,” its Chief Executive Amit Agarwal told PTI. He said after demonetisation, activity in the rental market has picked up more than in the sale/resale segment.

“There is still a lull in the these two segments and developers are trying to woo buyers with certain incentives and discounts. On the other hand, the resale market, because of the lower rentals, is still a preferred option for customers,” Agarwal said.”We have so far raised Rs 135 crore and we plan to spend a significant amount for marketing and creating brand awareness through non-digital mode, from radio,” Agarwal added. — Agencies