Blackstone-backed ASK Property Fund has entered into a platform arrangement to invest ₹500 crore in real estate projects developed by Bhoomika Group, focusing on the National Capital Region (NCR).
The initial tranche of ₹125 crore is earmarked for a plotted development project in Faridabad, marking the first deployment under the broader commitment.
The deal underscores growing institutional confidence in India's plotted development segment, which has seen robust buyer interest in emerging micro-markets outside traditional urban cores.
ASK Property Fund, a joint venture between Blackstone and ASK Real Estate, has increasingly targeted mid-tier cities and peri-urban areas where land costs remain attractive relative to prime metropolitan zones.
Bhoomika Group, a developer with a strong presence in Haryana and Delhi-NCR, will utilize the capital to accelerate project execution and meet rising demand for residential plots.
The partnership provides Bhoomika with access to institutional-grade funding while allowing ASK Property Fund to expand its footprint in the high-growth NCR corridor.