Arvind SmartSpaces Will Develop Two New Township Projects in Ahmedabad

Arvind SmartSpaces Limited (ASL), a real estate development firm based in Gujarat, has announced that it has inked two major golf-themed horizontal (plots and villas) development projects in Ahmedabad.

These initiatives are anticipated to encompass a total area of 704 acres and have a revenue potential of Rs 2,300 crore.

These are ASL's seventeenth and eighteenth initiatives in the city. They are located in South Ahmedabad. Both are signed under the joint development model, which permits low capital intensity and high returns.

The area is in close proximity to various industrial centres, including Changodar, GIDC, etc., and has well-developed connections to other areas of Ahmedabad. Both proposed developments are envisioned as multi-asset landmark communities.

These additions underscore the company's efforts to strengthen its presence in South Ahmedabad's micromarkets with high growth potential. South Ahmedabad has emerged as one of Ahmedabad's most lucrative micromarkets for plotted development/weekend residences.

With these, Arvind SmartSpaces has expanded its presence in the Ahmedabad area by 18 initiatives. It has already completed eight initiatives, with the remaining projects in varied phases of development.

Kamal Singal, managing director and chief executive officer of Arvind SmartSpaces, stated,

In the preceding decade, the government initiated a massive infrastructure expansion in Ahmedabad, which has become a centre for industry. Increased BFSI, IT/ITeS activity, high quality of life parameters, and increased affordability have increased the demand for Ahmedabad residential real estate.