Keystone Realtors (Rustomjee Group) has forayed into Plotted Development with the acquisition of around 88-acre land parcel in Kasara. This lush green land, nestled amidst scenic beauty of mountains, marks the first significant step in expanding Rustomjee’s portfolio to cater to the growing demand for second homes away from the metropolitan hustle.
The Kasara project would comprise of around 500 plots of different sizes, totaling approximately 1.5 million square feet. This project is set to redefine luxury living in tranquil surroundings. The total consideration for the land purchase is Rs 91 crore, with Rs 1 crore already paid and the remaining Rs 90 crore to be paid in a staggered manner over the next 2 years. The company has already applied for RERA registration and plan to launch the project in the current quarter, Q2FY25.
Plotted development is a strategic move for Rustomjee, driven by the increasing demand for second homes among individuals seeking a peaceful retreat from city life. This venture aligns perfectly with Rustomjee’s business model, as plotted developments generally offer quicker cash flow cycles and enhance profitability and return ratios. This project in Kasara exemplifies the company’s commitment to tap into high-demand segments, ensuring a steady and robust growth trajectory.
Keystone Realtors is one of the prominent real estate developers and is engaged primarily in the business of real estate construction, development and other related activities in India.
