The investment will be made in Smartworld Sky Arc and Trump Residences in Sector 69, Gurugram. The two projects have a combined gross development value (GDV) of more than ₹8,200 crore, according to the developer.
The transaction marks the first phase of the partnership between Smartworld Developers and Kotak Realty Fund, with the latter providing institutional capital to the projects.
Kotak Realty Fund has been investing in Indian real estate for more than two decades. Its latest fund closed at nearly $1 billion and was anchored by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), along with the National Pension Service of Korea.
For Smartworld, the investment brings institutional capital into its premium residential portfolio in the National Capital Region (NCR). The company is promoted by the Bansal family and is an affiliate of M3M India.
The investment comes at a time when institutional capital continues to play a role in funding large residential developments, particularly in the premium housing segment.
The companies did not disclose the detailed structure of the ₹800-crore investment or the individual allocation between the two projects.
