In a major move that reflects investor confidence in South Delhi’s stable real estate market, Golden Growth Fund (GGF), a prominent alternative investment fund (AIF), and Grovy India, a leading BSE-listed real estate developer, have committed Rs 180 crore to three high-end residential projects. Located in some of the most coveted areas of South Delhi, the developments span nearly 70,000 sq. ft. and hold a combined sales potential of Rs 240 crore. This strategic investment comes as demand for luxury homes in the region continues to rise, driven by discerning buyers seeking state-of-the-art amenities and exclusivity.
Investment Overview
Golden Growth Fund (GGF) and Grovy India have partnered to invest in three premium residential projects in South Delhi, primarily in the upscale neighborhoods of Anand Niketan and Neeti Bagh.
- Total Investment: Rs 180 crore
- Projects Covered: Two projects in Anand Niketan and Neeti Bagh, with a third in a Category A colony to be announced soon.
- Total Development Area: Approximately 70,000 sq. ft.
- Combined Sales Potential: Rs 240 crore
Construction Timeline:
- Work at Anand Niketan commenced in January 2025.
- Development at Neeti Bagh is slated to begin in June 2025.
Strategic Importance of South Delhi’s Real Estate Market
South Delhi’s real estate market, particularly within its prestigious Category A colonies, has proven to be a stable and resilient investment choice. These neighborhoods, which include Anand Niketan and Neeti Bagh, offer the promise of strong capital appreciation, making them attractive to both domestic and international investors. Plot prices in these areas range from Rs 7-15 lakh per square yard, with a total market value for privately owned residential plots estimated at Rs 5.65 lakh crore.
GGF’s focus on South Delhi, especially after launching in September 2024, emphasizes the growing demand for luxury homes. The region’s appeal lies in its non-volatile nature, which continues to attract high-net-worth individuals looking for safe, long-term investments in India’s capital.
Quote from GGF CEO
Ankur Jalan, CEO of Golden Growth Fund, commented on the partnership, “These investments in South Delhi reiterate our commitment to developing and delivering not just high-quality projects but also ensuring a safe and stable 20%+ IRR to our investors. The non-volatile nature of the South Delhi real estate market has led to increased investment, with discerning buyers seeking upscale neighbourhoods with homes offering state-of-the-art amenities and privacy.”
About the Partners: Golden Growth Fund & Grovy India
- Golden Growth Fund (GGF): Established in September 2024, GGF is a Category II AIF focusing exclusively on premium real estate in South and Lutyens’ Delhi. The fund aims to raise Rs 400 crore for real estate acquisitions in these prime areas.
- Grovy India: Founded in 1985, Grovy India is a BSE-listed real estate developer with a proven track record. Having completed over 100 high-end residential projects in South Delhi, the company brings extensive on-ground expertise to this partnership.
Together, GGF and Grovy India’s shared expertise aims to bring luxurious living to some of Delhi’s most sought-after locations, meeting the growing demand for upscale residential developments in the region.
Summary Table: Key Facts
| Aspect | Details |
|---|---|
| Total Investment | Rs 180 crore |
| Development Area | 70,000 sq. ft. |
| Sales Potential | Rs 240 crore |
| Locations | Anand Niketan, Neeti Bagh (3rd colony coming soon) |
| Construction Start Date | January 2025 (Anand Niketan), June 2025 (Neeti Bagh) |
| Expected IRR | 20%+ |
| Golden Growth Fund Launch | September 2024 |
| Grovy India Established | 1985 |
FAQ Section
1. What is the total investment made by Golden Growth Fund and Grovy India in South Delhi?
The total investment in the three projects across South Delhi is Rs 180 crore.
2. Which locations are involved in these residential projects?
The investment covers two projects in Anand Niketan and Neeti Bagh, with a third project planned in another Category A colony, which will be announced soon.
3. When will construction begin on the projects?
Construction at Anand Niketan began in January 2025, while development at Neeti Bagh is scheduled to start in June 2025.
4. What is the expected sales potential for these projects?
The combined sales potential of the three projects is approximately Rs 240 crore.
5. What is the focus of the Golden Growth Fund in terms of real estate?
GGF exclusively focuses on premium real estate in South and Lutyens’ Delhi, aiming to raise Rs 400 crore for future acquisitions in these high-demand areas.