CORRECTED-Indiareit says raises about $50 mln domestic fund
(Corrects headline and paragraph 1 to say domestic fund, not redevelopment fund)
MUMBAI Aug 6 (Reuters) - Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises, said on Tuesday it raised 3 billion rupees ($49.3 million) from domestic investors to invest in major Indian cities.
Indiareit continues with its plans to raise up to 10 billion rupees for the fund, it said in a statement.
The property fund manages about 43.43 billion Indian rupees ($713.43 million) across five earlier funds and two third party mandates, Indiareit said. ($1 = 60.8750 Indian rupees) (Reporting by Indulal PM; Editing by Gopakumar Warrier)
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