JP Morgan to find Rs.375 Crore for Puravankara's Chennai project

J P Morgan has extended about Rs 375 crore funding to Puravankara Projects for developing a 4.2 million sqft premium residential project in Chennai. The funding is in the form of senior debt to a special purpose vehicle executing the project with an assured return of 18%.

The funding is for Purva Windermere, which is coming up on a 54-acre land parcel along Chennai's Old Mahabalipuram Road.