Real estate private equity fund Indiareit will invest Rs 250 crore (Rs 2.5 billion) in the proposed 138-acre township promoted by the Pune-based Paranjape Schemes Construction Ltd.
The fund is to invest in income generating assets such as malls, office complexes among others.
Sudden spurt could be seen as a sign of maturity or slowing in the sector.
Indian property markets are not in the pink of health.