Nugraj Developers has raised Rs 50 crore from Capri Global to fund residential projects in the Kharkhoda and Sonipat regions of Haryana. The capital aims to capitalize on growing housing demand near the industrial hub of IMT Kharkhoda, supported by new transport connectivity.
Nugraj Developers has secured Rs 50 crore in growth capital from the non-banking financial company Capri Global. The company plans to use these funds to scale its residential project portfolio in the emerging real estate corridors of Kharkhoda and Sonipat in Haryana.
The investment strategy focuses on the changing landscape of this region, which is currently undergoing a shift from agricultural and traditional land use to organized residential and industrial development. This transition is largely driven by the proximity to the Integrated Model Township (IMT) at Kharkhoda, which hosts significant industrial units, including the automotive manufacturing ecosystem led by companies like Maruti Suzuki.
Infrastructure improvements are playing a crucial role in this shift. The introduction of the Namo Bharat Rapid Rail Transit System (RRTS) is expected to improve connectivity between the National Capital Region and these outer corridors, making them more accessible for commuters and residents. Rezonance Consultants served as the advisor for this transaction, which highlights the growing interest of private equity and non-banking lenders in structured residential townships located on the outskirts of major metropolitan hubs.
For investors and home buyers, the key monitorable remains the execution capability of the developer. Real estate projects in emerging corridors carry specific risks, particularly regarding infrastructure timelines. The value of residential land in these areas is often tightly linked to the actual completion and operational success of government-led connectivity projects like the RRTS and the full utilization of industrial zones like IMT Kharkhoda.
While the funding provides liquidity for expansion, success will ultimately depend on the company's ability to maintain pace with construction timelines and match product offerings with market demand. As these peripheral markets evolve, potential buyers and partners often track project milestones and the developer’s track record in managing project costs and debt. Consistent demand in these regions is not guaranteed and remains sensitive to broader economic factors that influence home-buying sentiment.