Portfolio
Treasure Town, Indore
Project Details:
Asset Class : Residential development
Land : 130.46 acres
Leasable / Saleable Area : 3.41 million sq ft
Location : Indore, Madhya Pradesh
Indian Portfolio Company : Indore Treasure Town Private Limited
Development Partner : Treasure World Developers Private Ltd
Investment Date : June 2007
Completion Date : N.A.
Funds Invested : EUR 7.71 million
Equity Stake : 40% (42.77% of profits)

Project

Indore, with a population of over 1.5 million, is one of the rapidly growing Tier II cities in India. Traditionally, this central Indian city has been a regional hub for the manufacturing, textile and agro industries. However, in recent years, the city has transformed itself into a dynamic commercial centre with a strong presence of IT, services, education and trade, along with manufacturing.

Treasure Town, a residential township project is located at Bijalpur, one of the high growth residential zone within Municipal limit of in south-west suburban of Indore City. The project is a large township development of residential and non-residential components (includes school, nursing home, hostel and homes for economically weaker section). The residential component comprises of plot, row houses, apartments (Treasure Town) and affordable housing (Treasure Vihar). The development on the overall infrastructure of the township and development of first phase (1.5 million sq ft) are at various stages of completion.

Yatra's joint venture partner, TWDPL, is a group company of Entertainment World Developers Limited (EWDL). EWDL is a developer of shopping malls, and residential townships in Tier II cities across India. ICICI Ventures, the investment arm of ICICI (India's largest private sector bank) and The Phoenix Mills Limited holds a strategic stake in EWDL.

Yatra has announced the disposal of its equity interest in the project in November 2013 and has received sales proceeds of EUR 4.6 million.



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