ASK Property Investment Advisors (ASK) has announced the closing of its sixth real estate fund with ₹610 crore. It intends to raise ₹2,000 crore through this fund. 

The fund will invest in the established residential markets of Mumbai, Pune, Noida, Gurgaon, Bengaluru and Chennai. 

Amit Bhagat, Chief Executive Officer (CEO) and Managing Director (MD), ASK, said, domestic and overseas investors account for 50 per cent each of the fund raised. The firm has finalised a few investments and is prepared for accelerated deployment given a very healthy pipeline and a structurally-resilient residential segment, he added. 

Over the last few years, private equity investments in income-yielding commercial, Industrial, residential and data centres have increased significantly. The increase is primarily led by foreign capital inflows in India.

Sunil Rohokale, MD and CEO, ASK Group, said, “We believe the residential market is already on a growth trajectory in 2022 and is likely to follow the same trend in the coming years.” The portfolio projects have shown robust performance and witnessed year-on-year growth of more than 70 per cent in sales value in FY 2021-22. The average prices have risen by over 10 per cent and this is likely to sustain given the increase in purchasing power in the segment, he added. 

According to ASK research, end-user demand combined with declining inventory on one side and employment generation combined with income growth in the service industry, information technology, financial services and allied sectors are the drivers for sustained demand in the residential sector.

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