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This [...] Kotak Realty Funds is raising $350-million for realestate joint venture projects in India and stakes in developer projects, to help the latter, who have witnesses a narrowing of their fund sources. The tactic has also been pursued by the realestate arm of US investment bank Morgan Stanley, which has bought into three small Indian developers, itching to accumulate land and build at a time when the land market is booming, so much so that many in the industry think a sharp correction is around the corner, even as most struggle to raise funds.
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