India Realty Excellence Fund managed by Motilal Oswal Private Equity Advisors, Supreme Universal and Mirchandani Group have invested Rs 60 crore to develop a realty project in the outskirts of Pune. It has an estimated development potential of 7 lakh square feet and comprises villas and apartments.

The joint venture formed as part of the strategic partnership would be for developing over 16 acres in Pune. Supreme Universal is a Mumbai- based developer that has developed several premium projects in Mumbai and Pune, while the Mirchandani Group has developed projects in Pune, Mumbai, Indore and Bhopal.

(This article was published on September 13, 2012)
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