Markets

ASK Group invests Rs 365 cr in Rajesh LifeSpaces’ Vikhroli project

Our Bureau Mumbai | Updated on January 22, 2018 Published on December 15, 2015

ASK Group has made an investment of Rs 365 crore in Mumbai-based Rajesh LifeSpaces’ Vikhroli project. 

 

ASK Group has committed the amount from its two domestic funds. This will be the second project where ASK has partnered with Rajesh LifeSpaces through real estate private equity.

The project is located in the eastern suburb of Vikhroli on the prime LBS Marg and is in proximity to large residential projects including ‘Address’ by Wadhwa, ‘Kalpataru Aura’ by Kalpataru and the R City Mall.

 

The project is spread across 10.5 acres with revenue potential of more than Rs 3,000 crore. The project focuses on middle- and upper middle-income households and is projected to be completed in phases by 2020.

 

Amit Bhagat, CEO and MD, ASK Property Investment Advisors said, “Location has an edge due to its proximity to the job market, metro, rail, airport and highway connectivity. Social infrastructure is well established with a preference by the self-employed segment also due to community living. The project is equi distant from BKC, Andheri, and Powai, the major job corridors.”

Published on December 15, 2015
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