New Delhi, 29 May 2025: Golden Growth Fund (GGF), a category II South Delhi premium real estate focused Alternative Investment Fund (AIF) and Grovy India, a BSE listed South Delhi-based real estate company have announced investment in three projects worth Rs 180 crore in South Delhi, one of India’s premier housing markets.

The investment has been made in Anand Niketan and Neeti Bagh, while the third project, in another Category A colony in South Delhi, is expected to come up in the next four months.

The cumulative area of the three projects is approximately 70,000 sq. ft. The construction on the project in Anand Niketan commenced in January 2025 while the same in Neeti Bagh will begin next month.

The sales potential of the three projects is the tune of approx. Rs 240 crore.

Ankur Jalan, CEO, Golden Growth Fund said, “These investments in South Delhi reiterates our commitment to developing and delivering not just high-quality projects but also ensure a safe and stable 20%+ IRR to our investors. The non-volatile nature of the South Delhi real estate market has led to increased investment with discerning buyers looking to invest in upscale neighbourhood with homes that offer state-of-the-art amenities and privacy. To add to it, excellent connectivity to airport and prime office destinations in Delhi-NCR make it a lucrative destination. As a result, the past few years have seen increased redevelopment in prime South Delhi colonies and exceptional price appreciation.”

South Delhi has around 18,500 privately owned residential plots, categorised as A, B, C and others by MCD, with current market value of Rs 5.65 lakh crore, presenting a huge opportunity for project development.

The average price of plots in Category A colonies range from Rs 7-15 lakh per sq. yd. while the average price in Category B colonies range from Rs 6-12 lakh per sq. yd.

“The Fund has received a very good response. GGF is the only fund that is focussed on South Delhi real estate market and that gives us the first-mover advantage in this vast landscape of South and Lutyens Delhi,” Jalan added.

Golden Growth Fund launched a real estate focussed AIF in September 2024 with a commitment to raise Rs 400 crore to acquire land in South and Lutyens Delhi, making it the only fund to invest in this end-user, niche and lucrative real estate market.

Grovy India limited was established in the year 1985 and has since then developed and delivered over 100 luxury projects in South Delhi.