Mumbai-based real estate developer Paradigm Realty Group has raised Rs 100 crore ($10.4 million) from Arnya RealEstates Fund for its residential project, 71 Midtown, the company said in a statement.
The funds will be used to complete Phases 1 and 2 of the project. Located in Chembur, Mumbai, 71 Midtown is spread across approximately 4.5 acres.
Paradigm Realty Group has completed 13 projects over the past 11 years and currently has six ongoing developments with around 4 million square feet under active development.
"The investment from Arnya RealEstates Fund marks a significant milestone in the growth journey of 71 Midtown,” said Parthh K Mehta, chairman, managing director and chief mentoring officer of Paradigm Realty Group. “We remain committed to creating exceptional living spaces while delivering sustainable value to our customers, partners, and stakeholders.”
Piyush Thakkaar, director - investments at Arnya RealEstate Fund Advisors, said real estate funding today is about backing projects with strong fundamentals, clear execution capability and long-term value. “Our association with Paradigm Realty for 71 Midtown reflects our confidence in the project’s strategic location planning and the developer's execution capabilities,” he said.
The company said the investment tenure is aligned with the project’s development and completion cycle. The structured financing is expected to improve cash flow visibility and support faster execution while maintaining quality standards and timely delivery.
In a separate statement issued recently, Arnya RealEstate Fund Advisors said it has committed Rs 1,000 crore across residential real estate projects in India through its maiden debt fund and direct investments.
The firm has previously backed projects by Casagrand, MAIA Estates, Gami Group, and Vaishnavi, among others.
