Axis RERA opportunities Fund-I has tied into a business deal with the realty firm, Akshaya Group. In accord with the deal, the investment fund will endow INR 60 crore in the Chennai-based firm, Akshaya Group.
This is the first investment of Axis AMCs maiden real estate alternative investment fund, Axis AMC said in a release, as reported by the Indian daily news, Economic Times.
In essence, Axis RERA Fund has sowed in Orlandoat Kelambakkam, a project of Akshaya Project, on Mahabalipuram road, Chennai.
Presently, Axis AMC has raised INR 400 Crore through its real estate fund, Axis RERA Fund. The investors in Axis AMC-led fund incorporate high net worth investors, domestic institutions and lastly, its sponsor that is, Axis AMC.
The fund aims investments in eight major cities in India, a decided investment route, and further, works along with the veteran realty developers possessing the capability as well as potential.