Commercial Project - Joint Venture

In Ahmedabad, Amrapali and Venus Group signed a deal to construct a Commercial Project

News

The Ahmedabad-based Amrapali group and Venus group went into a joint venture to develop a retail-cum-office project on a land parcel of 15,000 sqft that cost over Rs. 400 crore. The land is situated on the Sindhu Bhawan Road also known as SBR and this is believed to be one of the costlier real estate deals in the Ahmedabad city.

The sources informed that Yashwant Thakkar of the Amrapali Group owns the land on the Sindhu Bhawan Road which at a short distance from the SG Highway. He plans to build a three-level commercial project that will include retail outlets. All this will be carried out in partnership with the Venus group.

Rajesh Vaswani, Executive Director of Venus Group confirmed the deal and said that the work has initially begun on the site but the concrete construction is yet to commence. The commercial space with Ground Floor+2 premium retail spaces are high in demand these days and the realtors are launching such projects while considering the same. The SBR and Ambli-Bopal road are the hotspot for such developments and the land cost on the Ambli-Bopal main road is approximately Rs. 2.25 lakh per square yard with a Floor Area Ration of 4.