Indiareit raises 10 bln rupees for domestic property fund

MUMBAI (Reuters) - Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises, has raised 10 billion rupees from investors within the country, the company said.

The domestic fund targets investments which will provide structured returns, Indiareit. The fund would invest in property assets in the top metro cities in the country, Indiareit said.

The property fund manages about 43.43 billion rupees across five earlier funds and two third party mandates.

(Reporting by Indulal PM; Editing by Anand Basu)