Plans Underway for a Rs 500 Crore Expansion Scheme to Boost Revival of Stalled Projects
New Delhi, May 12 – SGRE Fund, a real estate-focused Alternative Investment Fund (AIF), has infused Rs 125 crore into two stressed housing projects in the Delhi-NCR region and is actively seeking additional investment opportunities.Registered with the Securities and Exchange Board of India (SEBI) under Category II, SGRE Fund was launched by the promoters of Nirala World and Sea Fund. Its primary objective is to provide crucial funding to stalled or financially stressed real estate projects, supporting their revival and timely completion.
Focused Investment in Delhi-NCR
Suresh Garg, lead promoter of SGRE Fund and Chairman and Managing Director of Nirala World, confirmed that the fund has already deployed Rs 125 crore across two residential developments and is preparing to invest further in viable projects.The fund targets all types of residential and commercial real estate ventures within the Delhi-NCR corridor. To scale operations, SGRE Fund has also applied to launch a second scheme with a proposed corpus of up to Rs 500 crore.
Strict Due Diligence and Eligibility
SGRE Fund has laid out a rigorous selection process for evaluating projects. "Any real estate company can apply for funding. Our legal and technical teams assess feasibility and clearances before proposals are reviewed by the standing committee. Projects must have clear land titles, no legal encumbrances, and economic viability to qualify for funding," Garg explained.He also highlighted the fund's willingness to assist developers in securing initial capital required to become eligible for the government-backed SWAMIH Fund, which supports stalled affordable and mid-income housing projects.
Backed by Prominent Real Estate Promoters
SGRE Fund is spearheaded by Suresh Garg of Nirala World and Sanjay Gupta, Director at Sea Fund. Nirala World has delivered over 10 million sq ft of residential real estate and is gearing up to launch two commercial projects in Greater Noida West.The AIF is positioned to attract investments from a wide range of sources, including family offices, high net-worth individuals (HNIs), insurance and pension funds, banks, sovereign wealth funds, multilateral institutions, and other sophisticated institutional investors, in compliance with SEBI regulations.
AIFs Continue to Power Indian Real Estate
According to a report by property consultancy Anarock, Alternative Investment Funds have collectively invested nearly Rs 74,000 crore into India’s real estate sector as of December 2024. These privately pooled investment vehicles play a significant role in channeling capital into the realty market, especially for projects in need of financial restructuring.With SGRE Fund's proactive stance and growing investor base, it is poised to become a key player in driving the recovery and completion of stalled real estate developments across the Delhi-NCR region.