IREF to raise Rs 500 cr

Indiabulls Real Estate Fund, part of the Indiabulls group, on Sunday said it had raised Rs 500 crore for its property fund.

The fund was launched nine months ago. Indiabulls said it had deployed 90 per cent of the capital raised in the projects of Vatika Group, Supertech, Sheth Creators and Naman Developers.

In June, Indiabulls Real Estate Fund had said it invested Rs 100 crore in a Gurgaon housing project of Vatika Group in the fund's first investment.