Arvind SmartSpaces Limited (ASL), the real estate arm of textile major Arvind Ltd on Monday announced that it has signed a new residential plotted development project in Ahmedabad, with an estimated investment of ₹600 crore.
This project located on Sanand-Nalsarovar road near Ahmedabad has been acquired on an outright basis and is spread over 150 acres. Managing Director and CEO of Arvind Smartspaces, Kamal Singal stated, “We are happy to announce the acquisition of this residential plotted development project in the high-potential Sanand-Nalsarovar market of Ahmedabad.”
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The Ahmedabad region continues to offer compelling growth opportunities for horizontal real estate, driven by strong infrastructure development and a thriving industrial ecosystem. With this acquisition, our year-to-date project addition value now stands at ₹4,450 crore, making it our biggest ever business development year.”
The project is strategically located approximately 15 km from Sanand and 30 km from Nalsarovar Bird Sanctuary, the release added.