Kalpataru Ltd Expands into Nagpur's Thriving Real Estate Market
Kalpataru Ltd is set to launch a plotted development project in Nagpur, offering 400 plots in a 37-acre project, with ANAROCK as its strategic sales partner.
Kalpataru LtdNagpur Real EstateAnarockPlotted DevelopmentSamruddhi ExpresswayReal EstateSep 03, 2024
The project, which is likely to be launched at Samruddhi Circle, the starting point of the 700 km long Mumbai-Nagpur Samruddhi Expressway in Nagpur, will offer 400 plots of varying sizes, ranging from 1,200 to 4,000 sq ft.
Kalpataru has a 100-acre land parcel near Samruddhi Circle, and the 37-acre plotted development will be part of the first phase of the project. The company has appointed ANAROCK, a renowned real estate consultancy firm, as its strategic sales partner for the project.
In August 2024, Kalpataru had filed for an Initial Public Offering (IPO) to raise over Rs 1,590 crore, with the primary aim of reducing its debt. The company plans to utilize Rs 1,192.5 crore for repayment/prepayment, in full or in part, of certain borrowings.
With its foray into the Nagpur market, Kalpataru is looking to capitalize on the growing demand for residential and commercial spaces in the city. The company's entry into the market is expected to boost the local economy and provide a range of housing options for homebuyers.
About Kalpataru Ltd
Kalpataru Ltd is a leading real estate development company based in Mumbai. The company has a strong presence in the Indian real estate market, with a portfolio of residential, commercial, and industrial projects across the country.
About ANAROCK
ANAROCK is a premier real estate consultancy firm that provides a range of services, including strategic sales, marketing, and advisory services to developers and investors. The company has a strong presence in the Indian real estate market, with a team of experienced professionals who provide expert advice and guidance to clients.
Frequently Asked Questions
What is the size of the plotted development project by Kalpataru Ltd in Nagpur?
The plotted development project by Kalpataru Ltd in Nagpur will be spread across 37 acres.
How many plots will be offered in the project?
The project will offer 400 plots of varying sizes, ranging from 1,200 to 4,000 sq ft.
Who is the strategic sales partner for the project?
ANAROCK, a renowned real estate consultancy firm, is the strategic sales partner for the project.
What is the primary aim of Kalpataru Ltd's IPO filing?
The primary aim of Kalpataru Ltd's IPO filing is to reduce its debt.
How much will Kalpataru Ltd utilize for repayment/prepayment of borrowings?
Kalpataru Ltd will utilize Rs 1,192.5 crore for repayment/prepayment, in full or in part, of certain borrowings.
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