 "RBI has said banks and HFCs need to strengthen their screening process in respect of lending to the segment")
Piramal Capital & Housing Finance, a subsidiary of Piramal Enterprises Limited, has sanctioned a Rs 2 billion facility to the Appaswamy Group (Appaswamy) via a structured equity transaction to enable the acquisition of 3.34 acres (approximately 60 grounds) land in Chennai.
Appaswamy acquired this piece of land on River View Road, Kotturpuram, from the TVH Group. The company plans to develop a premium residential project with potential sales revenue totalling in excess of Rs 10 billion.
Khushru Jijina, Managing Director, Piramal Capital & Housing Finance, said that Chennai is an important market for the firm in South India. Since its
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