The esteemed Rustomjee Group, has marked a significant expansion into the plotted development sector with the acquisition of approximately 88 acres in Kasara. This picturesque locale, surrounded by stunning mountain views, represents Rustomjee’s first foray into this domain, aiming to meet the increasing demand for second homes. The upcoming Kasara project will comprise around 500 plots of varying sizes, totalling approximately 1.5 million square feet, poised to redefine luxury living amidst serene natural surroundings.
The total cost for the land acquisition is pegged at ₹91 crores, with an initial payment of ₹1 crore already made, and the remaining amount set to be disbursed in instalments over the next two years. Keystone Realtors has already initiated the process for RERA registration and plans to launch the project in Q2 FY25. This strategic move into plotted development is a response to the growing desire for second homes, particularly among individuals seeking a peaceful retreat from urban chaos. This venture aligns seamlessly with Rustomjee’s broader business model, as plotted developments typically offer quicker cash flow cycles and bolster profitability and return ratios. The Kasara project exemplifies the company’s dedication to tapping into high-demand segments, ensuring a sustainable growth trajectory.
Expressing excitement over this new venture, top management at Keystone Realtors stated, “We are thrilled to announce our entry into plotted development with our first acquisition in Kasara. This milestone reflects our strategic vision to diversify and expand our portfolio. Recognised for identifying emerging market trends, we see significant demand in this sector. The lack of organised and branded developers in plotted development makes it an attractive market for us to address evolving customer needs. This project underscores our commitment to innovation and quality while aligning with our goal of delivering exceptional value to our stakeholders.” The rising demand for second homes, particularly among those seeking luxury combined with tranquillity away from city life, underscores the timing of Rustomjee’s new venture. The Kasara project is set to provide an idyllic retreat for homebuyers, merging contemporary amenities with the serenity of nature. Its strategic location enhances its appeal, making it an ideal choice for this development. Rustomjee’s entry into this segment is expected to set new industry standards, providing well-planned plots that cater to the discerning tastes of modern buyers. With a focus on innovation, quality, and customer satisfaction, the Kasara project is poised for success, contributing to the overall growth and development of the region.
