SG Road has observed another deal which is more than Rs 100 crore, a city resident has bought a 17,500 square yard plot near Vaishnodevi Circle. Sources reveal that the official deal size is about Rs 118 crore.
The plot has been purchased by Sheetal Infrastructure. It has been so that SG Road has been a place of many deals after it has been widened. Both corporations and those developing residential projects have kept their eye on it. The last deal that took place is expected to result in the building of about 15 lakh square feet of high end residential development.
Sheetal Infrastructure CMD Paras Pandit said that they have begun the deal to purchase about 17,500 sq yard plot near Vaishnodevi Circle and it will be complete soon. He further added that this area had seen major infrastructure development along with improvements in connectivity after the widening of SG Road. He went ahead to say that a good number of big corporate houses have been set up in the area, along with advancements in commercial development also being prominent. He believes that the area is a good place for high-end residential projects and they are planning accordingly to launch a project on the plot soon.
Pandit shares that the company is planning to construct 22 or 28 storey buildings on the plot. Ahmedabad has seen a good demand for high-end residential properties after the Covid lockdown. A leading real estate consultant commented
”Improved connectivity between Ahmedaad and Gandhinagar has increased the deals on SG Road in recent times and a number of developers are planning to launch projects on the stretch.” He further added: “There is good demand for residential and commercial properties. This road is also getting most of the tall buildings in the city because developers are bullish about this stretch.”