Cornerstone Properties, VSR in equal JV to float residential development firm.

Real estate firm Cornerstone Properties has entered into an equal joint venture with Vishwa Samudra Group (VSR Group), a Hyderabad based infrastructure conglomerate, to float a residential development firm.

The new firm, Akhinta Enterprises, will focus on developing luxury residential projects in Bangalore priced upwards of Rs. 2 crore.

The company will invest over Rs. 500 crore to build 5 million square feet of residential projects across Bangalore.

ET