With a $300 million treasure chest for investments in the Indian real estate
sector, JP Morgan Property Fund plans to set up a residential project in Chennai,
at an estimated cost of Rs400 crore.
an equal joint venture tie-up with Chennai-based realty developer Arihant Foundations
and Housing, J P Morgan will put up a 45-acre residential project.
P Morgan''s India Property Fund targets key economic centres in the country including
Mumbai, Bangalore, Chennai, Kolkata, Hyderabad and New Delhi among others, to
develop projects along with local partners.
year, J P Morgan Asset Management had announced the mobilisation
of around $360 million from institutional and high net worth investors from the
US, Asia, Europe and the Middle East to invest in the Indian real estate space.