Alliance Group raises Rs.165-Cr from Kotak Realty Fund

Chennai-based real estate firm Alliance Group has raised around INR 165 crore from Kotak Realty Fund. The structured debt deal is against an ongoing affordable residential project called Revolution One in Chennai. The investment takes the Kotak fund's commitment to around INR 800 crore across five projects in Chennai and Hyderabad. The project in Chennai on the Old Mahabalipuram Road is spread across 12.5 acres and has 4000 units priced at INR 30-55 lakh each.