Tata Realty to set up USD 750 mn real estate fund

Mumbai, Oct 29 (PTI) Tata group company, Tata Realty and Infrastructure Limited (TRIL), will set up a seven-year, USD 750 million real estate fund, a top company official has said.
The real estate fund will comprise long-term investors such as pension funds, insurance companies and government organisations, Tata Realty's Managing Director Dinesh Chandiok, told reporters on the sidelines of the US-India CEO Forum here today.
The company hopes to close the fund in two weeks' time, he said.
On the prevailing real estate prices, Chandiok said demand-supply gap in the industry still existed and hence, realty prices may witness a steady rise.
According to him, the booming stock market and capital inflows into the country might not have much of an impact on realty investment.
"There may be some diversion of funds into the stock market, but the impact on realty investments may not be much," Chandiok said.
Tata Realty is a 100 per cent subsidiary of Tata Sons and is its real estate and infrastructure development arm, focusing on infrastructure projects related to airports, urban infrastructure, roads, bridges, SEZs and logistics parks, among others. PTI

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