Jain Housing receives Rs 220 cr funding

Real estate developer Jain Housing and Construction has received Rs 220 crore funding from Singapore-based GIC Pvt Ltd as part of taking up high end projects in the city.

“Jain Housing and Construction has received funding to the tune of Rs 220 crore from Singapore’s GIC Pvt Ltd. With this funding, Jain Housing will develop high end residential projects in Old Mahabalipuram Road, Thoraipakkam.”, Jain Housing and Construction said in a statement.

The projects are expected to be completed by 2017.

Jain Housing and Construction Ltd Managing Director Sandeep Mehta said the company has completed 10.82 lakh square feet across various residential projects in 2014. It has more than 15 projects on hand, expected to be completed in four to five years.

“The company with a turnover of Rs 250 crore in 2013-14 and is aiming to register a 10 per cent growth in 2014-15”, the statement said.