Indian real estate funds are finding it tougher than usual to raise money as investors demand a more rigorous due-diligence process in an uncertain environment. Large pension funds and global investors are now seeking exclusive and direct partnerships with developers instead of parking money with fund managers who are essentially intermediaries.
“There are some uncertainties concerning the real estate sector right now,” said Shobhit Agarwal, managing director, capital markets and international director at property consultant JLL India. “India is on the radar and the government has done a lot of marketing to attract investments, but being good domestic fund managers does not automatically make them right to raise dollar-denominated funds,” he added.
Read more: Livemint
