New Delhi: Golden Growth Fund (GGF), a Category II real estate-focused Alternative Investment Fund, has acquired a land parcel in Gulmohar Park in South Delhi and plans to develop a luxury residential project with an estimated revenue potential of around ₹100 crore, according to a company statement.
This is the fund’s third acquisition in South Delhi since its launch in September 2024. Earlier acquisitions include projects in Anand Niketan and Neeti Bagh, where construction activities are currently underway.
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The proposed development will be built on a 500 sq. yd. corner plot, with a total built-up area of about 20,000 sq. ft. The project will comprise four independent residential floors, each with a size of approximately 3,500 sq. ft.
“The acquisition is in line with the fund’s strategy to invest in South Delhi’s residential market,” said Ankur Jalan, Chief Executive Officer of Golden Growth Fund.
He said that demand for independent luxury floors in select South Delhi locations has increased over the past year. “Luxury floors in the area have seen nearly 20 per cent price appreciation over the last year, supported by redevelopment activity and changes in development norms,” Jalan said.
He added that revised floor area ratio (FAR) norms are allowing the construction of larger units with modern amenities, which is contributing to redevelopment across established residential colonies.
The project will be developed by Grovy India Ltd, a listed real estate developer. The company has completed more than 120 projects since its inception in 1985.
Golden Growth Fund’s real estate AIF focuses on investments in South and Lutyens Delhi. According to the company, the fund has recorded an internal rate of return (IRR) of about 28 per cent as of December 31, 2025.
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Market data indicates that South Delhi’s Category A and B colonies together have around 18,500 plots, with an estimated redevelopment potential of approximately ₹6.5 lakh crore.
Property prices in these areas have shown an upward trend. In 2025, average prices of independent floors in Category A colonies rose by 25–34 per cent, while Category B colonies saw an increase of 22–26 per cent, reflecting continued demand for premium residential properties.
