Milestone has decided that it will be investing in two-three projects of an SPV called Pelican Affordable Housing Pvt. Ltd. All these projects are still in the development phase.

Pelican is part of the Chennai-based reality developer, Pelican Group. It raised 20 crore rupees in the form of PE funding for its projects and most of this money was given by Milestone Capital Advisors Ltd.

Milestone is aggressively involved with the real estate projects.

Meanwhile, the projects of Pelican are present in places like Pondicherry, Madurai, Trichy and Kodaikanal. The money given will be for the projects mostly related to Pondicherry.

This project include building of houses and also providing the area with facilities like sewage treatment plant, water treatment plant, underground provisions for power and water supply and sewage disposal.

The financial advisory for the deal will be handled by Pelican and the total area under these projects will be to the tune of 40 lakh sq ft.

As per the data given by VCEdge, till now there have been 23 deals worth $719 million in this calendar year. Most of these are in the reality sector.