Sure! Here’s a rewritten version of the content:
NEW DELHI: Ramky Estates & Farms has acquired stalled residential projects totaling approximately 4.3 million sq ft in Bengaluru from Skylark Builders.
The developments, situated in prominent areas such as Electronic City and Whitefield, are projected to generate around ₹2,000 crore in revenue, with an estimated remaining completion cost of ₹1,500 crore.
To facilitate the execution of these projects, the developer has secured ₹600 crore in funding from the government-supported Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund.
The projects have been rebranded as ‘Ramky Lumina’ in Electronic City and ‘Ramky Fortuna’ in Whitefield, collectively consisting of around 1,881 housing units. Current construction progress is approximately 60% at Lumina and 75% at Fortuna.
The takeover of Lumina was finalized in June 2025, followed by Fortuna in March 2026. Completion for Lumina is anticipated between Q3 and Q4 of FY27, while Fortuna will adhere to its updated execution timeline.
The projects have experienced significant delays, affecting over 1,800 homebuyers.
The SWAMIH Fund, managed by SBICAP Ventures, was established by the Indian government to provide last-mile funding for incomplete housing projects.
