Sales : 
US-based Citigroup unit, Citigroup Property Investors has linked a 50:50 joint venture with India’s unlisted Gera Developments for a USD 125-million real estate project in the country, reports Financial Express.
The JV partners would develop a residential project, comprising 600 apartments, a country club and a hotel, in Pune, Maharashtra within the next four years, said Gera Developments executive director Rohit Gera.
However, the investment details of the project are yet to be confirmed.
The Indian company is also mulling other collaboration with Citigroup.
Gera declined a request to disclose the revenue figures of the company, although he said it could be close to Rs 2.3 billion this year.
The firm is constructing a million square feet in different projects, which could be sold at an average price of Rs 2,300 a square foot.
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