Big Breaking News Arvind SmartSpaces buys 150-acre land parcel in Ahmedabad

Arvind SmartSpaces, a listed real estate developer based in Ahmedabad, has made a significant acquisition by purchasing a 150-acre land parcel located on Sanand-Nalsarovar Road in Ahmedabad. This acquisition is part of their strategic expansion into residential plotted development projects.

Project Details

The newly acquired land will be developed into a residential project with an estimated sales value of ₹600 crore. The total saleable area for this project is projected to be approximately 6.6 million square feet. The company has not disclosed the financial details regarding the purchase price or the identity of the seller.

Location and Strategic Importance

The site is strategically positioned about 15 kilometers from Sanand and 30 kilometers from Nalsarovar Lake, which is known for its natural beauty and proximity to the Nalsarovar Bird Sanctuary. This region is experiencing transformative growth due to improved infrastructure and connectivity, making it an attractive location for horizontal real estate development. The demand for such developments is bolstered by its closeness to major industrial hubs.

Company’s Growth Context

Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, expressed optimism about this acquisition, stating that it aligns with the company’s growth strategy in high-potential markets like Sanand-Nalsarovar. With this addition, Arvind SmartSpaces Plots Khopoli’ year-to-date project addition value now stands at ₹4,450 crore, marking it as their most significant business development year to date.

Arvind SmartSpaces Plots

Arvind SmartSpaces Plots has acquired a substantial land parcel in Ahmedabad for a plotted development project valued at ₹600 crore. This move reflects the company’s commitment to expanding its footprint in regions with strong growth potential driven by infrastructure improvements and industrial demand.