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Real estate boom in Ahmedabad

Comments(2) Sub Category:Uncategorized Posted On: Oct 19, 2011

Ahmedabad has been witnessing some huge land transactions recently. Some few days back a plot along the SG Road near Prahaladnagar junction was sold for Rs 85 crore. The seller, a five decade old realty firm, had sold the 7,500 sq yards of land for Rs 1.11 lakh per square yard. The plot was purchased by a realty company after months of negotiations. The company plans to launch a high-rise commercial building in the plot.

Last year similar expensive land deals had happened in the city. A Dubai-based Non Residential Indian (NRI),  had successfully bid for the 3,700 square yards of land near Shalby Hospital. He had reportedly paid  Rs 34 crore  for the land at around Rs 95,000 per square yard. In May 2010, some NRI investors along with a group of local realtors had bought around  2,800 bighas of land along the Thol-Sanand road for an incredible Rs 800 crore. The deal was reported to be struck at Rs 25 to 30 lakh per bigha.

Source: The Times of India

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