<article>Singapore’s sovereign wealth fund <a href="http://www.dealstreetasia.com/?s=GIC">GIC Pvt Ltd</a> has invested $35 million in Chennai based builder <a href="http://www.jainhousing.com/index.php">Jain Housing and Construction</a> and the company plans to use the proceeds to undertake high end projects in the capital city of Tamil Nadu.</article>

Singapore’s sovereign wealth fund <a href="http://www.dealstreetasia.com/?s=GIC">GIC Pvt Ltd</a> has invested $35 million in Chennai based builder <a href="http://www.jainhousing.com/index.php">Jain Housing and Construction</a> and the company plans to use the proceeds to undertake high end projects in the capital city of Tamil Nadu.
This marks the latest in GIC’s investment spree in India.
<a href="http://www.dealstreetasia.com/">DEALSTREETASIA</a> recently <a href="http://www.dealstreetasia.com/stories/gic-likely-invest-250m-2-realty-deals-india-2579/">reported</a> that the Singapore fund was in talks to invest around $250 million in two separate realty projects in India.
In the first instance, GIC is in advanced talks to invest about $150 million in realty company <a style="color: #000080;" href="http://www.vatikagroup.com/">Vatika Group</a>, and may form a joint venture or an exclusive alliance with the latter, for a platform, that will in turn invest in realty ventures across North India. In the second instance, GIC is in advanced talks to invest just under $100 million in a residential project of developer <a style="color: #000080;" href="http://www.ambiencegroup.in/">Ambience Pvt Ltd</a>, according to executives aware of the development.
Also read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/gic-likely-invest-250m-2-realty-deals-india-2579/">GIC may invest $250m in two realty deals in India</a>
Currently many of Jain Housing’s existing projects are around the outskirts of Chennai, the capital city of the Southern Indian state of Tamil Nadu.
&#8220;Jain Housing and Construction has received funding to the tune of Rs 220 crore from Singapore&#8217;s GIC Pvt Ltd. With this funding, Jain Housing will develop high end residential projects in Old Mahabalipuram Road, Thoraipakkam.&#8221;, the company, which claims to have completed 10.82 lakh square feet across various residential projects in 2014,  said in a statement.
&#8220;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&#8221;, the statement added.
In December, GIC had  announced that it would invest 30 per cent stake in Indian developer <a href="http://www.nirlonltd.com/">Nirlon Ltd</a> that owns 3.3-million-sq-ft IT park in a Mumbai suburb, in a deal that is worth up to $198 million.
Also read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/gic-buys-stake-india-s-nirlon-198m-1640/">GIC buys stake in India’s Nirlon for $198m</a>

Singapore’s sovereign wealth fund GIC Pvt Ltd has invested $35 million in Chennai based builder Jain Housing and Construction

GIC invests $35m in Chennai’s Jain Housing

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GIC invests $35m in Chennai’s Jain Housing

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