Hospitality

Milestone Capital Advisors, an independent venture fund house focusing on real estate and headquartered in Washington, DC, USA, will invest up to Rs 1,200 crore in affordable, green housing in Tamil Nadu.
"Chennai and other cities like Coimbatore and Madurai offer among the most exciting real estate investment opportunities in the country," Ved Prakash Arya, Managing Director, Milestone Capital Advisors, said. "The trend indicates that economic growth prospects of Chennai remain excellent. We believe that this will also fuel a demand for residential space to the tune of 15-20 million sq. ft over the next two to three years."
Talking about green housing, he said, "Chennai was the first city to make rainwater harvesting compulsory for new residential projects. While eco-friendly housing has become a buzzword, we believe that the real wave of green housing will start from Chennai," Arya remarked.

— Pradip Bhattacharya

Contact: Milestone Capital Advisors, Senate II, The Orchid Hotel, 70/C, Nehru Road, Vile Parle (E), Mumbai, Maharashtra 400099. Tel: 022-26164112/4113; Fax: 022-26164112; E-mail afaque@milestonecapital.in