JLL invests Rs 20 crore in residential project near Chennai

JLL India’s Segregated Funds Group announces Second Investment through its Residential Opportunities Fund (ROF-I)

New Delhi: The Segregated Funds Group of Jones Lang LaSalle India, a leading real estate research firm, has invested INR 20 Crore with Chennai-based builder Plaza Group to develop a residential project. 

The investment has been carried out through 'Residential Opportunities Fund –I,' which has been registered with SEBI as AIF category II.

The investment, made for a residential project, is coming up in suburb Kovilambakkam near OMR, on Pallavaram-Thoraipakkam 200 feet road, near Chennai. 

Plaza group, a renowned brand in Chennai city and especially in the South suburbs micro-market, has delivered eight projects (with BUA of 2 million sq. ft.) in last 10 years. The group has four ongoing projects (with BUA of 1.5 million sq. ft.), which will be complete in the next three years.

Commenting on the deal closure, Mridul Upreti, CEO, Segregated Funds Group, said, “We are happy to partner with Plaza Group. We see value in mid income housing projects in prominent micro markets within Chennai, and Plaza group has created a niche in this space. This deal also furthers our existing footprint in south India.”  

T. Shyam Prasad, Chairman and Managing Director, Plaza Group, said, “We are delighted to partner with JLL Segregated Funds Group. The deal furthers our relationship with JLL.”