September 01, 2011
IndiaReit Domestic Fund Scheme IV has signed an investment agreement
IndiaReit Domestic Fund Scheme IV, ("IndiaReit"), has signed an investment agreement to invest a sum of Rs. 200 crores (approx. USD 45 million) in a slum rehabilitation project to be developed by Omkar Realtors and Developers Private Limited ("Omkar"). Omkar is a private limited company in India engaged in the business of real estate construction and development.
We, at Nishith Desai Associates, acted as Indian legal and tax counsel to IndiaReit for this investment.