Keystone Realtors, under the prestigious Rustomjee Group, has made a significant move into the plotted development sector with the acquisition of an approximately 88-acre land parcel in Kasara.
This lush, scenic land, nestled amidst the picturesque beauty of mountains, marks Rustomjee’s inaugural venture into this domain, aiming to cater to the burgeoning demand for second homes. The Kasara project will feature around 500 plots of varying sizes, totalling approximately 1.5 million square feet, and is set to redefine luxury living in tranquil surroundings. The total consideration for the land purchase stands at Rs 91 crores, with Rs 1 crore already paid and the remaining Rs 90 crores to be paid in instalments over the next two years. The company has already applied for RERA registration and plans to launch the project in the current quarter, Q2 FY25.
The decision to enter plotted development is a strategic one for Rustomjee, driven by the increasing desire for second homes among individuals seeking a peaceful retreat from urban life. This venture aligns seamlessly with Rustomjee’s business model, as plotted developments generally offer quicker cash flow cycles and enhance profitability and return ratios. The Kasara project exemplifies the company’s commitment to tapping into high-demand segments, ensuring a steady and robust growth trajectory.
Top management at Keystone Realtors expressed their enthusiasm, stating, “We are thrilled to announce our foray into plotted development with our first acquisition in Kasara. This move represents a significant milestone for Rustomjee, reflecting our strategic vision to diversify and expand our portfolio. Rustomjee is recognised for its proactive approach in identifying emerging market trends. In plotted development, we foresee strong demand and traction. This segment lacks organised and branded developers, making it an attractive market to tap into and meet the ever-evolving needs of customers. The Kasara project is not only a testament to our commitment towards innovation and quality but also aligns with our goal of meeting the evolving needs of our customers. With a solid capital structure and strong liquidity, we are well-positioned to bring this project to fruition and continue our growth momentum. We look forward to delivering exceptional value to all our stakeholders and setting new benchmarks in the real estate industry.”
Rustomjee’s venture into plotted development comes at a time when the demand for second homes is rising, particularly among those seeking a blend of luxury and serenity away from the bustling city life. This project is poised to offer an idyllic retreat for homebuyers, combining contemporary amenities with the tranquillity of nature. The strategic location of Kasara, with its natural beauty and accessibility, makes it an ideal choice for this venture. Rustomjee’s entry into this segment is expected to set new standards in the industry, providing high-quality, well-planned plots that cater to the discerning tastes of modern homebuyers. The company’s focus on innovation, quality, and customer satisfaction ensures that the Kasara project will be a resounding success, contributing to the overall growth and development of the region.
