Mitsubishi enters Indian realty, invests Rs 1.8 bn in Shriram Properties

Mitsubishi Corporation, Japan, has entered the Indian real estate sector with an investment of about Rs 1.8 billion in an ongoing residential project of Shriram Properties in Chennai.

The two companies have signed definitive agreements for partnership to promote the residential project, which is spread over in 63 acres.

Shriram was, in fact, the chosen partner for the first-ever realty investment respectively by TPG, Tata Capital, Walton Street Capital and Starwood Capital.

Under the terms of the agreement, Mitsubishi would take a 70 per cent stake in an ongoing residential project named “Shriram Park 63”.

The project is being developed on prime land at