NAGPUR: Kesar India Limited (KIL) has expanded its presence in Nagpur’s rapidly developing real estate sector by acquiring a 24,256 sqm (approximately six acres) land parcel in Hingna, where it plans to launch a high-rise residential and commercial project projected to generate around ₹900 crore in revenue.
The company announced that the upcoming project will encompass more than 1.5 million square feet of space, integrating luxury residences with commercial facilities.
Officials involved in the project emphasized that it aims to cater to the increasing demand in Nagpur, which is experiencing a surge in population, a lack of housing, and enhanced living standards, leading to substantial investments in recent times.
The skyline of Nagpur is evolving swiftly, with numerous high-rise towers nearing completion across various areas. This acquisition by Kesar India follows closely on the heels of a land purchase by the Godrej Group near the Samruddhi Expressway, highlighting the growing interest from major developers.
Real estate analysts note that the Hingna project is consistent with broader trends seen throughout the city. High-rise developments are proliferating in all sectors of Nagpur as developers strive to meet increasing housing demands while augmenting commercial infrastructure to support suburban expansion.
In a regulatory update to the Bombay Stock Exchange, Kesar India indicated that the project has an estimated revenue potential of ₹900 crore. Toshiba Jain, Company Secretary and Compliance Officer, remarked that this acquisition represents a significant milestone in their expansion strategy, asserting that Nagpur is “rapidly evolving into a major urban and commercial hub.”
Company representatives indicated that the mixed-use development will serve both residential buyers and businesses. “The project will include both residential and commercial spaces,” they stated, emphasizing their view of Nagpur as a “rapidly emerging urban and commercial center.”
