11 April
Mumbai
Reporter: Mark Dugdale

India real estate deals hit $3.42 billion


India’s real estate market saw 19 investments worth $3.42 billion during the quarter that ended in March, according to Venture Intelligence.

The research firm’s latest report on Indian private equity investments in real estate identified a 66.4 percent increase in value over the previous quarter’s $2.05 billion from 24 transactions.

The January-to-March quarter was also up on the same period in 2016, when 18 transactions worth $1.26 billion were completed.

According to Venture Intelligence, the commercial segment dominated transactions, with Singaporean wealth fund GIC investing $2.14 billion in real estate developer DLF’s rental arm.

The commercial segment experienced an all-time high investment worth $2.6 billion across five transactions during the quarter, Venture Intelligence reported.

The next largest deal reported during Q1 2017 was Blacktone’s $250 million investment in a 15-percent stake in the office holding company of K Raheja Corp.

Canadian pension fund Caisse de dépôt et placement du Québec also committed to setting up a real estate investment platform with Piramal Enterprises by contributing $250 million.

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