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Chandigarh based real estate developer Sushma Group has raised Rs 50 crore from the for its under-construction holiday homes project.
The fund raised from
will be used in developing the holiday homes in hill town Dharampura.
“We have received a tremendous response on our holiday homes project, Sushma Elementa, mainly due to its prominent location near Kasauli. We’re planning to develop more similar projects in Himachal Pradesh, owing to the positive response received from investors in the region,” said Prateek Mittal, Executive Director of Sushma Group.
Sushma Elementa is being developed at a 60-minute drive from Chandigarh on Kasauli Road, in the hill town of Dharampura.
Spread over 6 acres, Sushma Elementa is a holiday home project that is well planned to serve the purpose of an efficient second home. Elementa has multiple exclusive features, including a lavish club, valley facing apartments, barbeque zones and a picturesque setting.
Earlier this year, Sushma group had raised Rs 100 crore from
to fund the construction of its 10.75-acre project in Zirakpur.
The fund was also used to give exit to existing lender
.
The company has delivered 5 million sq ft of residential and commercial space and another 15-18 lakh sq ft is under various stages of construction.
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