Madhav Group, Headquartered in Ahmedabad, Acquires Bodakdev Land For INR 250 Crore

In what is believed to be the most expensive property purchase in Ahmedabad's Bodakdev neighbourhood, a 10,000-square-yard plot was recently sold for a stunning Rs 250 crore, or Rs 2.5 lakh per square yard, according to Ahmedabad real estate industry insiders.

Madhav Group acquired this prime real estate site in Bodakdev.

According to industry insiders, a land sale of this magnitude has been announced in the city for the first time in a long time, creating a stir.

According to market sources, the parcel in issue is located along a 36-metre road and has a maximum permissible FSI of 4.

An Ahmedabad-based real estate expert confirmed that despite the tremendous demand for plotting schemes, there have been no significant land sales in Ahmedabad since Diwali.

A sizable property transaction illustrates real estate developers' growing interest in developing new properties along transportation routes, which often have a higher FSI.

Moreover, demand for high-end residential real estate has surged in Ahmedabad, particularly in the aftermath of the epidemic, as residents want larger, more spacious houses.

Other larger real estate deals, land transactions, redevelopment proposals in Ahmedabad are on the cards in the days to come.