KVN Properties, a real estate venture founded by former Prestige Estates CEO Venkat K Narayana, is in advanced talks to raise ₹1,000 crore from Kotak Realty Fund to fuel its expansion plans, sources said.

The Bengaluru-based firm intends to use the funds to acquire prime land parcels across India for development through joint ventures and joint development agreements.

The company plans to raise this fund through issue of debentures, they added.

The fundraise will enable KVN Properties to expand its land parcel footprint in prime locations across India.

These land parcels will get developed through joint development agreements (JDA) or joint ventures (JV) with leading property developers.

The company aims to make land parcel with development potential of 10 million sq ft available for development by 2025-26.

Recently, KVN Properties finalised a joint venture with the Puravankara Group to develop a 24.59-acre land parcel in North Bengaluru and also entered into the development management arrangement with Assetz Group to develop a 5.67-acre land parcel in North Bengaluru.

These projects will have a projected gross development value (GDV) of over Rs 4,300 crore.