The real estate sector is the second largest employer in the country after agriculture and hence without any doubt is one of the most important sectors for the country economy.
Lodha Developers Pvt. Ltd. announced the launch of its maiden investment fund of Rs 50 crores for start ups in real estate sector and the start ups which are focusing on smart city solutions. The fund plans on investing at all stages of development cycle of the start up.
According to Livemint.com while launching the fund Lodha Developers managing director Abhishek Lodha said, “our fund’s philosophy is in line with Prime Minister Narendra Modi’s three core campaigns—Startup India, Housing for All and demonetisation. The real estate sector is unarguably an important sector for India’s economy, being the second- largest employer in the country after agriculture. As India ushers in a new era on the back of path-breaking policy changes such as demonetisation, Real Estate (Regulation and Development) Act and GST, the sector too will reap benefits in the long run…Our fund will address the prevailing inefficiencies in the sector with the use of technology and smart solutions.”
According to Dealstreetasia.com , Lodha said, “2-3 business ideas have been already vetted and the first round of investments will be completed by March 2017. We are committed towards progress of the sector and will be constantly on the lookout for new opportunities, In the first phase, the company will not only provide angel funding or venture capital, but also business opportunities, industry contacts and mentorship”
Jones Lang LaSalle (JLL) set up a real estate technology division to invest in growth-stage firms, which develop technology solutions in the real estate sector. The new entity, which is funded by JLL’s (global) proprietary capital, has made its first investment, an undisclosed amount in Foyr.com, a Hyderabad-based firm offering technology and products for real estate and interior design firms.
Lodha Group is currently developing around 41 million sq. ft. of prime residential real estate across 31 ongoing projects in London and other major cities in India