Milestone Capital Advisors has announced plans to raise a substantial fund of ten billion rupees, aimed specifically at investing in the real estate sector situated in tier-II and tier-III cities across Tamil Nadu (TN). The capital for this fund is expected to come from high net worth individuals as well as various financial institutions.
Primarily, this fund will be directed towards the construction and development of affordable and environmentally friendly housing, in addition to establishing large warehousing facilities throughout Tamil Nadu.
To date, the company has successfully launched two different funds. The initial fund was focused on raising Rs 2.5 billion, which was subsequently allocated towards fourteen projects, with a significant concentration on nine located in Chennai.
The second fund, aimed at procuring ten billion rupees, specifically focused on investments in readily available properties in sectors such as warehousing and office spaces.