Arnya, Casagrand Launch ₹750-Crore Residential Real Estate Fund

Arnya, Casagrand Launch ₹750-Crore Residential Real Estate Fund

Mumbai-based Arnya RealEstates Fund Advisors and Bengaluru-headquartered Casagrand Premier Builder have launched a ₹750-crore Category II Alternative Investment Fund (AIF), targeting residential real estate opportunities in Chennai, Bengaluru and Hyderabad.

Named Arnya Real Estate Fund III – Preferred Capital, the fund is expected to invest between ₹75 crore and ₹200 crore across around eight to 10 residential projects. The projects will be developed exclusively by Casagrand, which will oversee their execution from development through completion.

The fund has been structured around a preferred-capital model, giving institutional and sophisticated investors exposure to the economics of residential real estate development. Under the structure, investors receive priority in the distribution of project profits and fund-level proceeds before residual returns accrue to the developer.

Casagrand has also committed at least ₹75 crore, or 15% of the fund corpus, whichever is higher. The commitment is intended to align the developer’s interests with those of the fund’s investors.

The partnership comes as institutional capital continues to gain importance in India’s residential property market. Arnya, founded in 2023, said it manages approximately ₹3,000 crore across multiple real estate investment strategies. This is the firm’s third fund.

For Casagrand, the fund provides another source of capital to support its residential development pipeline across southern Indian markets. The company has a portfolio exceeding 88 million sq. ft. across more than 180 projects, with operations spanning Chennai, Bengaluru, Hyderabad, Coimbatore, Pune and Dubai.

As of June 30, 2026, Casagrand had 103 completed projects covering 21.79 million sq. ft. of saleable area. Another 57 projects were under development, representing 44.10 million sq. ft., while 21 forthcoming projects accounted for an estimated 23.81 million sq. ft. of saleable area.

The latest fund will focus specifically on projects in Chennai, Bengaluru and Hyderabad, three markets that have remained important to Casagrand’s expansion strategy.

The launch also builds on Arnya’s recent fundraising activity. Earlier this year, the investment manager announced the first close of its residential equity fund at more than ₹1,030 crore. The firm is developing a broader real estate investment platform spanning debt, equity, preferred capital and core assets.

With the new ₹750-crore vehicle, Arnya and Casagrand are seeking to combine institutional funding with a developer-led execution model, while giving investors structured exposure to India’s growing residential real estate market.