Stans Buildtech Group secures INR 160 crores from SWAMIH Fund to revive stalled SRA project, Sky Annex, in Mumbai
Mumbai, India, 07 March 2024: Leading real estate consulting firm, Colliers India, recently assisted Stans Buildtech Homes Pvt. Ltd. in securing financing of Rs. 160 crores from SWAMIH Fund, managed by SBICAP Ventures Limited, for its SRA project. Sky Annex, located in Chembur, Mumbai, was taken over by Stans Buildtech in 2016 and has been under development since. A legacy of issues involving tenants, flat buyers, approvals, and lack of suitable financing to meet requirements led to the project being stalled, and is now set to resume, following the deal.
“This deal exemplifies SWAMIH Fund's commitment to understanding and resolving complex real estate situations. By providing solution capital, we are not only unlocking value for various stakeholders but also fulfilling our objective of ...