Nisus Finance Services Co to invest Rs 90 cr in Paranjape Schemes' Hinjewadi project

Through its real-estate focused AIF - Real Estate Special Opportunities Fund-I

Nisus Finance Services Co announced an investment of Rs 90 crore through its Real Estate Special Opportunities Fund-I (RESO-I) in Realnet Ventures, a wholly owned subsidiary of Paranjape Schemes (Constructions), promoted by Shrikant Paranjape and Shashank Paranjape.

The Project forms a part of ?Blue Ridge? a 150 Acres developed township by Paranjape Schemes (Constructions) located in Hinjewadi Ph 1. The township is a mixed-use township with 33 residential towers already delivered to 6,000+ families living, 3 SEZ with 35,000+ IT professionals employed, commercial establishments, school, social infrastructure and township level modern amenities like 9 pocket golf course, basketball court, tennis court etc.

Project is a residential apartment tower being developed on a 1.09 Acres of conveyed land having total saleable area of 4.02 lakh sq. ft. The project has a total of 188 units with 3 BHK (average area 1,300 sq. ft.) and 4 BHK (average area of 1,700 sq. ft.) unit configuration. Project has GDV of ~Rs 370 crroe and is expected to generate an operating surplus of ~Rs 143 crore.