NRI investor Purnendu Chatterjee’s TCG Real Estate, in collaboration with the US-based Vornado Realty Trust, is nearing the completion of an investment worth ₹270 crore targeted at two residential projects located in NCR and Mumbai. According to a source familiar with the fund's strategy, the company plans to allocate ₹150 crore to projects in Mumbai and ₹120 crore to those in Noida, acquiring a stake of approximately 40-45% in each endeavor.
"The $400 million fund collaborates with landowners, state governments, and developers, especially focusing on medium-sized developers who often struggle with adequate capital and management resources, to generate top-notch international quality real estate that caters to the ever-increasing demand in the industry. The fund embraces both controlling and minority stakes in its investments. Additionally, it is open to investing in related sectors, including construction, mortgage lending, and infrastructure development. The fund typically invests between $5 million and $50 million for each investment. Notably, TCG serves as the property development and investment division of The Chatterjee Group."