Altico Capital to fund township in NCR
Altico Capital, a real estate-focused non-bank lender, has teamed up with American private equity firm KKR’s realty lending arm to fund a 66-acre residential township, being developed by SARE Homes in the National Capital Region.
Altico Capital has disbursed Rs3,000 crore in loans to the Indian real estate sector since it started operations in 2015. “We are seeing large appetite for funds from real estate developers and mid-income housing is a safe investment as most of the buyers are end users and obtain mortgages to finance the purchase of their homes, which increases transparency,” said Sanjay Grewal, the Altico Capital managing director.
Real estate is pegged to be a $180 billion industry by 2020, according to estimates by sector regulator National Housing Board. The board claims that smart city projects, digitisation of land records and corporate tax exemptions to real estate investment trusts will drive investments in the sector.