bangalore ask property investment advisors ask pia part of the diversified financial service company ask group will invest upwards of rs 500 crore across multiple midmarket residential projects in india by the end of this calendar said the groups chief executive ask pia has just raised 50 million approximately rs 360 crore of its 200 million offshore fund in singapore part of which will be deployed in fdi compliant residential developments in mumbai pune chennai bangalore and delhincr three european and asian institutional investors participated in asks maiden india focused real estate fund the company also plans to utilize the remaining capital of rs 400 crore from its second domestic fund of rs 1000 crore which was raised three years ago till date askpia has invested rs 950 crore across 12 residential developments in india the company has also made exits of about rs 145 crore returning 50 of the capital from its first domestic fund in 2010 back to investors we are looking to invest in three to four developments at the project level and we are in advanced stage of discussions to invest in a project located in delhi said sunil rohokale md and ceo ask group currently the group manages assets in excess of 1 billion in equity pms portfolio management services wealth advisory and real estate pms on the groups offshore fund rohokale said though the current fund raising environment is challenging im hopeful of raising the remaining capital of 150 million by the end of this calendar he added that the company would be tapping large institutions pension and endowment funds and family offices based in the us europe and west asia post the 2008 meltdown global fund houses have skirted the volatile residential real estate market choosing instead to focus on stable rent yielding commercial assets which gives them annual yields of 10 to 12 in the same period though domestic funds such as ask property indiareit fund advisors and icici prudential have been active investors in the residential market last week indiareit fund advisors the real estate private equity arm of piramal enterprises announced the closure of its rs 1000 crore fund domestic scheme v