Kotak Realty Fund exits from TDI project

Realty firm TDI Infracorp has given an exit to Kotak Realty Fund from its housing project in Sonepat by repaying a debt of Rs 110 crore.
Kotak Realty had invested Rs 110 crore in TDI Infracorp's 'Lake Grove' project in 2013 at Kundli in Sonepat. This project is part of TDI Group's 1,250 acre township project.
"We have given exit to our investor Kotak Realty by making full payment of principal of Rs 110 crore and interest amount," TDI Infracorp Managing Director Kamal Taneja said in a statement today.
The Delhi-based company is developing both low-rise floors and high-rise apartments in this project.

"We have almost sold out the low rise waterside floors and have got very good bookings for our high-rise apartment Lakeside Heights and LakeDrive," Taneja added.
Sources said the firm has repaid about Rs 165 crore to Kotak Realty Fund through its internal accruals.
TDI expects that the real estate projects in Kundli-Sonepat zone would become attractive for investors with the upcoming 135-km long Kundli-Manesar-Palwal (KMP) Expressway.
The company is building 5 townships, spread over an area of 2,480 acres, at Kundli, Mohali I and II, and Moradabad.