Category II real estate fund reports 61% NAV growth since launch and expands investments across South Delhi
Golden Growth Fund (GGF) has announced the final close of its maiden Alternative Investment Fund (AIF), achieving assets under management (AUM) of ₹101 crore.
The Category II real estate-focused AIF, launched in September 2024, invests in prime South Delhi residential markets. According to the fund, its Net Asset Value (NAV) reached 160.9, representing a 61% increase as of March 2026, while delivering an annualised Internal Rate of Return (IRR) of 47% since launch.
Investments Across South Delhi
GGF has invested in three residential projects located in Anand Niketan, Neeti Bagh, and Gulmohar Park, in line with its investment strategy focused on South Delhi’s luxury real estate market.
The Anand Niketan project is nearly 80% complete and is expected to be delivered in Q3 FY2026-27.
The Neeti Bagh project has reached 20% completion, with delivery expected in Q3 FY2027-28.
Construction has also commenced on the recently acquired Gulmohar Park project.
The three developments are being executed in partnership with Grovy India Ltd, a listed real estate developer with more than 150 completed projects.
CEO Comments
Commenting on the milestone, Ankur Jalan, CEO, Golden Growth Fund, said:
“The final close of our maiden fund marks an important milestone for Golden Growth Fund. It reflects growing investor confidence in institutional real estate investments and our ability to identify compelling opportunities in the sector. We will continue to focus on deploying capital prudently to generate superior risk-adjusted returns. With South Delhi real estate market witnessing strong demand, the role of AIFs will be key to ensuring adequate funding for the next growth cycle of South Delhi.”
South Delhi Market Performance
According to the fund’s latest report, South Delhi’s luxury residential market continued to record growth during the first quarter of 2026.
The report states that prices of luxury floors increased by up to 32% year-on-year in Q1 2026.
It also noted that Category B colonies recorded stronger price growth of 23–32%, compared with 14–22% growth in Category A colonies during the same period.
Despite this, property values remain higher in Category A locations, where floor prices range between ₹19.5 crore and ₹40 crore, while Category B colonies range between ₹10.65 crore and ₹16.5 crore.
Ankur Jalan further added:
“GGF is the only fund that is focussed on South Delhi real estate market and that gives us the first-mover advantage in this vast landscape of South and Lutyens Delhi.”
MCD Property Categories
The Municipal Corporation of Delhi (MCD) classifies residential colonies into eight categories (A to H). These classifications are used to determine circle rates, property tax rates and stamp duty charges.
Examples of Category A and B colonies include Mayfair Garden, Panchsheel Park (N Block, S & E Blocks), Sadhana Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chanakyapuri, Golf Links, Jor Bagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, Greater Kailash (GK), Green Park, Gulmohar Park and Neeti Bagh.
