Blackstone invests $1,800 crore in India's housing market

Blackstone Group is entering India's housing market with an $1,800 crore investment to acquire a 66% stake in Kolte Patil Developers. This marks a shift from their focus on commercial properties to mid-income and premium housing in cities like Pune, Mumbai, and Bengaluru. The acquisition will begin with a preferential allotment of shares, followed by an open offer for additional public shares. Blackstone aims to leverage Kolte Patil's local expertise while expanding its presence in key metro markets before considering other regions in India. This move highlights growing institutional interest in India's residential sector. Blackstone's established track record in real estate and significant financial resources are expected to enhance choices for homebuyers in the mid and premium segments.