Indiareit says raises about Rs 300 cr for redevelopment fund

Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises , said on Tuesday it raised Rs 300 crore  from domestic investors for a fund that will invest in redevelopment projects in India.

Indiareit continues with its plans to raise up to Rs 1000 crore  for the fund, it said in a statement.

The property fund manages about Rs 4343 crore across five earlier funds and two third party mandates, Indiareit said.