Delhi NCR/Mumbai Aug 06: Blackstone-backed ASK Property Fund today announced that it has signed a platform arrangement for INR 500 crore. The proposed platform will invest in real estate developments, including residential plotted colonies across lucrative micro markets in NCR.
As part of this arrangement, ASK Property Fund proposes to invest INR 125 crore in a plotted development project located in Faridabad. The project is spread across 20 acres.
Faridabad is an emerging NCR micro-market, supported by land availability, improving infrastructure and competitive pricing. Key connectivity upgrades, including the Delhi-Mumbai Expressway link, the proposed FNG Expressway, the Faridabad-Jewar corridor and Noida International Airport, are expected to improve regional access and strengthen buyer interest. With lower entry pricing than more mature NCR markets, Faridabad offers a compelling proposition for buyers. The project is well positioned to capture demand for plotted residential formats that offer flexibility, manageable ticket sizes and potential for medium- to long-term appreciation.
Bhavin Jain, Co-Head & CIO, ASK Property Fund, stated, “Our platform arrangement with Bhumika Group reflects our continued focus on creating scalable partnerships in residential real estate. Plotted developments are seeing strong interest from buyers, particularly in emerging micro-markets where infrastructure growth and affordability can support long-term value creation. This investment is consistent with our philosophy of maintaining strong governance and risk controls and delivering attractive risk-adjusted returns for our investors.”
Mr Uddhav Poddar, Chairman and Managing Director Bhumika Group stated, “This platform arrangement with ASK Property Fund marks an important milestone in Bhumika Group’s growth journey. More than a capital partnership, it brings together two institutions that share a common philosophy of long-term value creation, disciplined execution and the highest standards of governance.
The infrastructure developments are creating one of the most compelling real estate opportunities in the NCR. At Bhumika Group, we have been early believers in this opportunity and are committed to creating thoughtfully planned, high-quality developments that contribute to the city’s next chapter of growth. Our partnership with ASK Property Fund strengthens our ability to scale responsibly while remaining focused on execution excellence, transparency, and delivering enduring value to our customers and stakeholders.”