MUMBAI--U.S.-based private equity firm Blackstone Group L.P. has bought two office properties in India from a unit of Indian financier IDFC Ltd., the company said in a statement.
IDFC said Blackstone has bought a property in Noida and another one in Pune from its private equity arm IDFC Alternatives Ltd.
Though the details of the deal was not known officially, a source close to the development said Blackstone has paid about $178 million for the two properties.
Real estate demand in India is expected to pick-up on the back of a recovery in the economy as the country's new government, which took charge in May, speeds up changes in economic policies.
Blackstone has been increasing its real estate investments in India in recent years. In May, it partnered with a local developer to buy Express Towers, an iconic business property in Mumbai. In December 2011, it bought an economic zone in Pune earmarked for promoting technology businesses.
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