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Motilal Oswal has invested Rs 58 crore in Chennai-based real estate developer Casa Grande Pvt Ltd. The investment would help the real estate developer in its acquisition of a land parcel belonging to Rane Group near here.
Motilal Oswal plans to invest Rs 100 crore more in the company.
Casa Grande bought the 5.34 acre land parcel belonging to Rane Group, at Alandur, around five-km from the Chennai airport.
Grande is planning to develop a 400,000 sft ultra-luxury apartment community with a projected turnover of Rs 300 crore.
This is the first investment of Motilal Oswal in Casa Grande. Other investors in Casa Grande include Avenue Ventures and Edelweiss financial services.
Casa Grande is a leading premium real estate company based out of Chennai, and started in 2004.
The company has developed three million sft space till date, covering 64 projects and has a projected pipeline of projects worth Rs 2,500 crore for the current fiscal.
