Global financial services firm, JP Morgan Chase has invested Rs 250 Crore in the Delhi based BPTP Limited, which is one of the fastest growing real estate companies in India. The real estate major, BPTP came into limelight after it purchased a 95-acre of prime commercial land at Noida for Rs 5,006 Crore last year. The Citigroup Property Investors too, which is the realty arm of the Citigroup, had acquired 5.8 per cent stake for Rs 322.5 Crore in the company previous year. Another Rs 112.5 Crore was pumped in by Merrill Lynch’s real estate arm in a joint venture project of the company.

Though it was not possible to reach JP Morgan Chase for comments on this acquisition, the sources from the industry nevertheless have confirmed that latest round of investment in BPTP Limited. The BPTP Company made a partial payment of Rs 1,000 Crore to the Noida Authority towards the first installment for the deal in June 2008, which is three months after emerging as the successful bidder in the Noida land transaction. Industry insiders state that BPTP has now made the balance payment towards the first installment due to the latest development.