Nila Spaces Limited buys 5,550 square metre land parcel in GIFT City
Real estate firm Nila Spaces Limited has purchased a 5,550 square metre land parcel in Gujarat International Finance Tec-City (GIFT City) for Rs 342 crore to develop a residential project. The proposed residential project will have a development potential of 5.22 lakh square feet where the firm will set up a 100-metre-tall residential tower.
Total investment in the project will be around Rs 750 crore and the topline is likely to remain above Rs 1,000 crore.