Stake sale in Reliance Home Finance may include divesting ownership control to the new partner.
Private equity giant Blackstone Group is learnt to be one of the top contenders to buy the Global Village Park.
Embassy Group bought a 14 stake in Indiabulls Real Estate in June.
Xander Investment is the PE real estate arm of The Xander Group Inc., a global investment firm.
This year, the commercial hub saw some top-dollar deals such as Blackstone Group Lp’s purchase of the One BKC office building for $362 million.
Blackstone has committed around $5.8 billion across 34 real estate investments in India.
The deal has created one of Asia’s largest diversified real estate groups with over S$123 billion AUM.
The decision follows Siddhartha garnering about ₹3,200 crore by selling the 20.32% stake held by him and two CCD affiliate firms in IT services firm
The haircuts could range from 20-60% depending on the net asset value of the project, according to industry estimates.
The special fund will invest in upcoming and completed projects.
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