Real estate developer Arvind SmartSpaces has signed two large horizontal (plots and villas) multiuse, golf-themed development projects in Ahmedabad, the company said in an official release. Located in South Ahmedabad and spread over 704 acre of area, the project has a top-line potential of around Rs 2,300 crore. The two projects have been signed under the joint development model, enabling low capital intensity and higher returns.
The first project will have an area of around 500 acre with a revenue potential of Rs 1,450 crore while the second project will spread over 204 acre and have a revenue potential of Rs 850 crore. According to the release, the area, where the projects are being developed provides connectivity to various parts of Ahmedabad with access to various Industrial hubs such as Changodar, GIDC, etc.
Kamal Singal, managing director and CEO, Arvind SmartSpaces said, “The company has created several benchmarks and set standards in the plotting, villa and villament space even before the pandemic, as the concept of second home was quite popular in Ahmedabad. Post-pandemic, we augmented our value proposition in this segment, with products that were ‘designed to inspire’ the consumers with amenities like golf courses, large luxury clubhouses, etc.”
According to the official release, Arvind SmartSpaces has added 18 projects across the Ahmedabad region with eight projects having already been delivered and 10 in various stages of development.
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