Indian real estate developer Siddha Group to invest about 1,200 crore rupees ($167.7 million) to develop its second housing project in Mumbai under slum rehabilitation scheme.
The company would construct 1,700 units for slum dwellers and another 750 units for sales in this seven-acre project.
In the next two-three months, Siddha Group would raise funds to meet construction cost through internal accruals and construction finance from banks or non-banking financial companies.
The project will start by end of this year and delivered by 2023 in two phases.