Red Fort Capital’s affordable housing portfolio has generated revenues in excess of USD450m with over 4,000 units sold since mid-2009.
The firm is currently harvesting investments in three affordable housing projects located in India’s National Capital Region and Chennai.
Subhash Bedi (pictured), managing director of Red Fort Capital, says: "Demand for Red Fort’s value-oriented projects has proven to be end-user driven and based on India’s robust long-term growth trends including sustained six to eight per cent annual GDP growth, increasing urbanisation, job creation across sectors and a burgeoning middle class with high savings and net worth."
Over the past year, Red Fort has launched KG Signature City by KG Builders in Chennai as well as Lotus Boulevard and Lotus Panache by The 3C Company in India’s National Capital Region. These three projects encompass 80+ acres including over 11 million square feet of residential space.
Red Fort’s affordable residential units include a mix of two, three and four bedroom options priced from USD50,000 to USD125,000.
Kishorkumar Gokaldas, chairman of KG Builders, says: "Since launch in March 2010, we have witnessed steady price appreciation and customer demand for our Red Fort-sponsored KG Signature City project near downtown Chennai, due to our strong brand presence and highly attractive location."
Red Fort Capital is a private equity real estate firm focused on India.
