June 14, 2024: Category-2 alternate investment fund Golden Growth Fund (GGF) on June 13, 2024, announced the acquisition of a land parcel in South Delhi’s Anand Niketan residential colony. The site enjoys easy access to several hospitals, schools, markets and other key amenities. The land will be redeveloped into a luxury residential project comprising just four spacious units spanning a total area of approximately 17,000 square foot (sqft).
Ankur Jalan, CEO of Golden Growth Fund, said, “South Delhi has an extremely supply-constrained real estate market for luxury housing. By focusing on high-quality, low-density developments in prime locations, we aim to unlock immense value for our investors.”
“This flagship acquisition in Anand Niketan establishes our commitment to uncovering investment opportunities in Delhi’s most coveted micro-markets. We have an ambitious pipeline of proposals across Delhi to aggregate land parcels for profitable redevelopment under the GGF fund umbrella. Our goal is to establish GGF as an aggregator and developer of prime luxury real estate in the capital,” added Jalan.
The acquired land parcel had a clear title which enabled a smooth transaction. GGF plans to develop and sell the luxury units through this project. This acquisition is GGF’s first project, supported by its parent company Grovy, which has completed over 100 real estate projects in Delhi. With multiple proposals in the pipeline across Delhi, GGF aims to enhance its footprint in the luxury real estate market, focusing on the profitability and execution of these projects.
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