Mumbai: Shriram Properties Ltd has tied up funds with Walton Street Capital and Starwood Capital Group for financing a Rs5,000 crore township on Hindustan Motors Uttarpara property.

Hindustan Motors signed a memorandum of understanding with Shriram Properties for development on 314 acre excess land at Uttarpara in Hooghly district, about 12 km from Kolkata.

A project would involve development of 20 million square feet of residential, retail, office and civic space, Shriram Properties said in a statement.

Hindustan Motors would hold a minority stake in the venture.