Shriram Properties-ASK JV acquires Rs.125-Cr stressed project in Bengaluru from IIFL

The co-investment platform set up by Shriram Properties and ASK Property Fund has acquired a stressed plotted development project from IIFL Group entities.in a deal valued at around INR 125 crore. The transaction involves the acquisition and development of "Golden Ira", a plotted development project of the Golden Gates Group that was a stressed asset which had taken loans from the IIFL Group. The partially-completed project is located at Dodballapur in North Bangalore, with an aggregate saleable area of around 10 lakh sq ft.