Krisla Developers, Hiranandani Communities to build Nagpur's first luxury golf course township

Krisla Developers and Hiranandani Communities are to build a luxury golf course township in Nagpur. The two companies announced the project jointly in Mumbai on Tuesday. It is being described as a major step towards advancing Maharashtra's real estate sector.

The project is estimated to have a revenue potential of Rs 2,100 crore. It will be the first luxury golf course township in Nagpur, the Orange City, and is being counted among the leading premium residential projects in Central India.

Dr Niranjan Hiranandani, Chief Managing Director of Hiranandani Communities, said better connectivity and multi-modal transport corridors were creating new centres of economic growth in the country. According to him, real estate plays a key role in turning these opportunities into investment, jobs and infrastructure development.

Dr Hiranandani said the Nagpur project would be built under the development management platform of Aleva by Hiranandani Communities and developed jointly with Krisla Developers.

Prospects for luxury real estate in Nagpur are growing with improvements in infrastructure and connectivity. Development hubs such as the Samruddhi Expressway, the metro network and MIHAN are giving momentum to the city's economic activity.

Akash Agarwal, Managing Director of Krisla Developers, said the company's strategy is to expand into different markets while keeping quality, design and customers' changing aspirations in mind. Entering Nagpur is part of that strategy. The company expects that local market knowledge and Hiranandani Communities' development experience will strengthen its brand value over the long term.

The township's main features will be neo-classical architecture, extensive green cover and a golf-based lifestyle. The plan is to create one of Nagpur's largest golf courses. Alongside it, 51 ultra-luxury plots will be developed, and townhouses and villas will also be built.

According to Agarwal, high net worth individuals (HNIs) and ultra high net worth individuals (UHNIs) have shown interest in the project. For this reason, the project could open up new possibilities in the premium residential market.

Krisla Developers' current portfolio includes the 105-acre Land of Dreams township, a second township spread over more than 100 acres, and a 10-lakh-sq-ft Grade A-plus commercial project.