WSB Partners, a real estate-focused investment firm, has forayed into Tier II markets with a ₹75 crore investment in Omaxe Limited, marking its latest move in India’s fast-growing non-metro property segment.

The funding has been made against residential plotted developments in Ujjain and Indore, both of which are emerging as high-growth Tier II markets supported by strong demand fundamentals and ongoing infrastructure expansion.

According to the company, Tier II and III cities are increasingly attracting institutional capital due to rising incomes, improved affordability, and sustained infrastructure investments. Expanding industrial and spiritual corridors, better connectivity, and evolving social infrastructure are helping create self-sustaining local economies, while relatively lower property prices and limited supply of branded developments are driving end-user demand and absorption.

The capital will be primarily used as growth funding, with a portion allocated toward working capital and reserves. The investment, made alongside affiliates of WSB Partners and co-investors, reflects the firm’s continued strategy of partnering with established developers to capture opportunities in high-growth Tier II and III markets, supported by strong execution capability, cashflow visibility, and disciplined structuring.

Omaxe Limited, a publicly listed real estate developer with a diversified portfolio across residential, commercial, retail and integrated township projects, has a strong presence in North and Central India and a track record of delivering large-scale developments across multiple cities.

Commenting on the investment, Rahul Rajendran said the deal reflects growing conviction in Tier II and III markets, supported by infrastructure development and improving affordability. He added that WSB continues to explore multiple transactions with Omaxe across other cities in the segment.