Project Details
Arvind SmartSpaces Limited announced it has signed a new residential horizontal development project located on Kerala-Nalsarovar Road in South Ahmedabad. This is a Joint Development project with an estimated top-line potential of approximately Rs. 180 crore.
The project spans 58.25 acres and has a saleable area of 2.5 million square feet.
Market Context
South Ahmedabad has emerged as one of the most promising micro-markets for plotted developments and weekend homes in the Ahmedabad region, driven by increasing demand and improving infrastructure connectivity.
Management Commentary
Mr. Priyansh Kapoor, MD and CEO of Arvind SmartSpaces, commented: "We are happy to announce the acquisition of this residential plotted development project in the high potential market of South Ahmedabad. Ahmedabad continues to offer compelling growth opportunities in the horizontal real estate segment, driven by robust infrastructure development and growing demand for plotted developments. The Company has established several benchmarks in the plotting and villa segments and is well-positioned to capitalize on the significant opportunities in this space."
Company Background
Built on approximately 128+ years old legacy of the Lalbhai Group, Arvind SmartSpaces was established in 2008 and is headquartered in Ahmedabad. The company has approximately 100.1 million square feet of real estate development across the country, with developments across Ahmedabad, Gandhinagar, Baroda, Bengaluru, MMR and Pune.