Bhartiya International raises Rs 700 crore debt for its realty project

Bhartiya International raises Rs 700 crore debt for a 125-acre mixed-use project in Bangalore from a consortium of banks that includes Corporation Bank, Allahabad Bank, Bank of Baroda, State Bank of Patiala and Andhra Bank

The debt will fund the first phase of the project under which 900 residential units will be constructed. with the total built-up area is envisaged at 17 million sq feet.

The project will have a total of 2,400 residential units. It is expected to be completed by 2016.