SWAMIH Fund to exit from Rs. 35cr investment in Taruchaya Residency
Project Overview
Taruchaya Residency is a mid-income residential project located at Jaipur developed by Taruchaya Colonizers Pvt Ltd (Vilasa Group) promoted by Mr. Pankaj Khandelwal.
Project has saleable area of ~5 lakh sq.ft. with 394 units in 3 buildings.
The Location
Project is located in emerging residential area of Ajmer Road, Jaipur
Project History
Project was launched in 2016 and expected to complete by 2019.
However, delayed due to various reasons such as lack of funding from existing lender, slower sales and collection than expected.
Overall, the project was delayed by about 2 years.
SWAMIH Investment
Project was launched in 2016 and expected to complete by 2019.
However, delayed due to various reasons such as lack of funding from existing lender, slower sales and collection than expected.
Overall, the project was delayed by about 2 years.
SWAMIH Impact
Project completed within ~2.0 years of investment despite losing 4-5 months in covid lockdowns.
Monitoring to ensure no diversion of funds u2013 all inflows are used for project completion
Contractor/vendors dues cleared. Salaries paid to the employees
~130 new units sold; ~120 Cr collected
281 homebuyers to finally get their homes
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