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Golden Growth Fund and Grovy India Invest Rs 1.8 Billion

2025-05-30

Golden Growth Fund, a category II Alternative Investment Fund focused on South Delhi real estate, and Grovy India, a listed developer, have jointly invested Rs 1.8 billion in three premium housing projects in South Delhi. These projects are located in Anand Niketan, Neeti Bagh, and a third Category A colony yet to commence.

The combined development spans around 70,000 sq. ft. with construction underway in Anand Niketan and set to begin in Neeti Bagh next month. The total sales potential of the projects is estimated at Rs 2.4 billion. The fund aims to generate over 20 per cent Internal Rate of Return (IRR) for its investors.

South Delhi, home to around 18,500 privately owned plots valued at Rs 5.65 trillion, offers lucrative redevelopment opportunities. Plot prices in Category A colonies range between Rs 7–15 million per sq. yd., while Category B plots range from Rs six–12 million per sq. yd.

Golden Growth Fund was launched in September 2024 with a Rs 4 billion target for strategic land acquisition in South and Lutyens' Delhi.