Ansal Buildwell to get Rs.47-Cr from SWAMIH fund to complete Faridabad project

Realty firm Ansal Buildwell will receive INR 47 crore from the government-backed stress fund SWAMIH to complete a housing project comprising nearly 900 units in Faridabad. Financial advisory firm Sambhav Consultancy facilitated the deal. Ansal had launched a 18-acre residential project 'Ansal Crown Heights' a decade ago in Sector 80, Faridabad, Haryana in an equal joint venture with a local builder. The project got delayed due to a dispute with the JV partner. Ansal Buidwell bought back the 50% stake of its partner in the JV Ansal Crown Infrabuild Pvt Ltd to end the dispute, making the entity a fully-owned subsidiary.