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As per a recent press release, Walton Street Blacksoil Real Estate Debt Fund II is said to have invested a sum of Rs 165 crores in Sowparnika Homes (Sowparnika Projects). The money will be used to fund affordable housing projects in key localities of Bengaluru such as Sarjapur Road, Whitefield, Old Madras Road, etc. In a bit to align themselves with the Prime Minister’s “Housing for All” initiative, the company will use this investment to create over 2,500 homes with an average ticket size of 50 lacs rupees.
As per a recent press release, Walton Street Blacksoil Real Estate Debt Fund II is said to have invested a sum of Rs 165 crores in Sowparnika Homes (Sowparnika Projects). The money will be used to fund affordable housing projects in key localities of Bengaluru such as Sarjapur Road, Whitefield, Old Madras Road, etc. In a bit to align themselves with the Prime Minister’s “Housing for All” initiative, the company will use this investment to create over 2,500 homes with an average ticket size of 50 lacs rupees.
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The Bengaluru headquartered Sowparnika Projects has, since inception, developed over 5 million square feer of space and delivered over 7,500 homes. They are currently developing another 4 million square feet of space that has the potential to create 4,000+ homes. They have successfully completed projects in Kerela, Tamil Nadu and Karnataka. The company aspires to have a turnover of 1,000 crore rupees and launch a successful IPO by 2025.
Blacksoil Capital is an alternative NBFC that assists start-ups, high growth companies and real estate developers with project financing. The company launched its first real estate fund in 2016 which met with immense success. Its second fund, WSBREDF II has already crossed its target fund size of 500 crore rupees across seven investments.
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