Kotak to invest in real estate in Gujarat
The Kotak Group has plans to create a Rs.2,000 realty venture fund, according to Uday Kotak, executive vice-chairman and managing director of Kotak Mahindra Bank. The group has already raised Rs.500 crore from the market and is raising another $300 - 350 million through the FIPB route.
The real estate market in Gujarat is on a huge upward swing and this has caught the eye of the Kotak Group which hopes to invest 15 to 20% of the total fund in the state alone.
Other than realty, the Group sees opportunity in the agricultural sector as well with Punjab and Gujarat topping the choice for growth in rural and semi-urban areas.
By INRnews Correspondent
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