Home Project News Urban Infrastructure News Realty MoUs worth Rs 20,000 crore for Ahmedabad in pipeline

    Realty MoUs worth Rs 20,000 crore for Ahmedabad in pipeline


    Of the MoUs lined up so far, 259 proposals with cumulative investment to the tune of Rs 12,841 crore are for developing realty projects in areas falling under Ahmedabad Municipal Corporation (AMC) limits.

    The remaining 126 MoUs worth Rs 7,384 crore are for localities under Ahmedabad Urban Development Authority (AUDA), said sources in the urban development department.

    The proposals include all types of real estate projects ranging from residential, townships, bungalows, commercial property to hotels in various parts of Ahmedabad. According to sources, city-based real estate company Mahika Infra has proposed a residential and commercial project in Vastrapur entailing an investment of around Rs 1,000 crore, while Shreenath Developers will ink an agreement for a Rs 600-crore hotel and commercial project in Thaltej.

    Arvind SmartSpaces, a real estate company belonging to the Arvind group, is set to pump Rs 500 crore for a township at Jethlaj in Kalol near Gandhinagar. JP Iscon Private Limited has come up with a slum redevelopment project at Odhav envisaging an investment of Rs 100 crore.

    Other prominent developers who are slated to ink agreements during the Vibrant Summit are Sun Builders, Aahna Build Spaces, City Gold Developers, Riddhi Siddhi Infra and Sheth Builders to name a few.

    With just a few more days to go for the Vibrant Summit, government officials believe the number of MoUs and projects will increase further.

    In the last edition of the summit, 301 real estate MoUs involving investments of Rs 30,905 crore were signed for real estate projects in AMC limits. Of this, 20-30 projects have failed take off and the remaining are in various stages of development, said sources privy to the information.

    Info- https://realty.economictimes


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