Realty firm Arvind SmartSpaces Ltd has bought a 150-acre land in Gujarat to develop a residential project with an estimated sales revenue of Rs 600 crore. The company did not disclose the deal value and name of the seller.
In a regulatory filing on Monday, the company informed that it has "signed a new residential plotted development project in Ahmedabad, with a total estimated area of 150 acre and a topline potential of Rs 600 crore."
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The project, acquired on an outright basis, is strategically located approximately 15 km from Sanand and 30 km from Nalsarovar Lake.
Arvind SmartSpaces is one of the leading real estate developers in the country.
Besides Gujarat, it has presence in Bengaluru and Pune.
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