PE-RE Fund Investments
Realtor Sushma group raises Rs.100-Cr debt from Motilal Oswal
Chandigarh-based Sushma group has raised INR 100 crore from Motilal Oswal to fund the construction of its 10.75-acre project in Zirakpur. The fund will also be used to give exit to existing lender LIC Housing and for completing the construction of the project. The loan has been partially disbursed and the rest will be released in phases based on the construction status, to be used for the development of Sushma Joynest MOH 1. The residential project offers a total of 13 towers with 9 floors in a built up area of 12 lakh sq ft. The first phase of possession of 360 units in five towers out of 950 units has already been offered. MOH 1 comprises 2 and 3 BHK apartments available in configurations of 1080 sq ft to 1640 sq ft. Phase 2 - possession will be done in this financial year 2022-23, and Phase 3 will be done in 2024-25.
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