Kotak India Affordable Fund to invest Rs 40 cr in Shriram's Kolkata project

This project will be launched in 2019 as part of Shriram Grand City, an integrated township with over 33 million sq ft of saleable area under development

Kotak India Affordable Fund will invest up to Rs 40 crore in Shriram Grand 2 — an affordable project in Kolkata — developed by Shriram Properties (SPL), part of Chennai-based Shriram Group.

The company has entered into a partnership with Kotak India Affordable Housing Fund-I (KIAHF) for development of the next phase of affordable housing projects, coming up as part of Shriram Grand City in Kolkata.

KIAHF will invest up to Rs 40 crore towards 50 per cent economic interest in the proposed development of Shriram Grand 2. KIAHF is an affordable housing fund managed by Kotak Investment Advisors and has CDC