Kochra Realty rescues Rs 700 crore distressed residential project in Mumbai
Real estate developer Kochra Realty has stepped in to take control of a Rs 700 crore financially stressed residential project in Mumbai's Dahisar suburb that was hit by extended delays. With a commitment to breathe new life into the stalled development, Kochra Realty targets completing the full project by 2025.
Earlier, the project, which had attracted interest from around 600 home buyers, was originally driven by Ashapura Housing and had received financial backing from an alternative investment fund. Kochra Realty has taken over the debt of the project and taken control of the redevelopment initiative, comprising a total of five towers, which was earlier in the hands of the initial developer.
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