Axis RERA fund invests Rs 60 cr in Akshaya Group

Axis RERA Opportunities Fund - I (Axis RERA Fund), Axis AMC’s maiden real estate alternative investment fund, has invested Rs 60 crore in Chennai-based developer Akshaya Group, as its debut investment. Axis RERA Fund has invested in Akshaya’s Orlando, a 5.46-acre upcoming township project located in Kelambakkam on Old Mahabalipuram Road (OMR. “I believe that in the future, real estate will be tilting towards themed and serviced projects and Orlando, the project we are investing in, is an example of the same. The project is an ideal one in the mid-market segment in that locality,” Balaji Rao, managing partner- real estate, Axis Asset Management Company, said. Axis Bank’s Axis Asset Management Company (AMC raised its first real estate alternate investment fund with commitments of around Rs 400 crore in 2018.

“We thank Axis AMC for placing their trust and faith in our brand and for choosing to invest in Orlando, one of our most exciting upcoming projects. We appreciate the due diligence exhibited by Axis AMC in selecting Akshaya for their maiden real estate fund,” T Chitty Babu, chairman and CEO, Akshaya, said.

ENDS


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