Friday, November 6, 2009

Good news for those who have booked a flat in Paranjape Schemes' Blue Ridge Hinjewadi

Looks like that 3i and Indiareit, investors in Blue Ridge Hinjewadi are doing well!

As per the news in The Financial Express, Indiareit Fund Advisors Pvt Ltd, a real estate fund manager promoted by the $1.8-billion Piramal Enterprises, is preparing to raise a $500-million offshore fund.

To raise this new offshore fund, Indiareit is wooing London-based private equity and venture capital firm 3i, which manages 11.7 billion euros worth of assets globally.

It means that, foreign investors withdrawing from the project was only one of the many rumors circulating in the times of world financial crises.

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