new delhi aug 15 realty firm prateek group has raised rs 275 crore from piramal capital and housing finance for its ongoing 40acre housing project at ghaziabad in august 2014 the noidabased developer had launched prateek grand city project at siddharth vihar in ghaziabad with an estimated investment of rs 5000 crore we have raised rs 275 crore from piramal for our grand city project prateek group chairman prashant tiwari told the company would develop 7000 units in this project in two phases we have launched the first phase of 4500 units about 3000 units have already been sold despite demand slowdown he said adding that the company would deliver the first phase by 2019end in the first phase the company launched units in the price range of rs 2863 lakh piramal group had earlier invested rs 200 crore in another residential project of prateek group prateek edifice at noidas sector 107 this project is near completion we will soon give exit to piramal group in this project by repaying their investments he added prateek group is developing various projects in noida greater noida and ghaziabad piramal capital and housing finance is funding in a big way to real estate developers which are facing cashcrunch because of sluggish housing sales the real estate market especially residential segment is facing a multiyear slowdown lakhs of buyers in delhincr region are stuck in projects of many developers including jaypee group amrapali unitech and the 3c company mjh anu anu