PATU Keswani, promoter of Lemon Tree chain of hotels, is in final stage talks with global private equity investor Warburg Pincus to float a joint venture for his affordable housing project, reports Radhika P Nair from Bangalore.
“Talks are underway for a $100 million investment,” said Keswani. Keswani said the company will concentrate on affordable housing and the first project will be in Gurgaon. The project, Lemon Tree Residences, will be “a large sized affordable housing project that will be priced between Rs. 30-75 lakh, depending on the city and location.” Warburg Pincus had invested . 280 crore in Lemon Tree Hotels in 2006.
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