Nila Spaces to invest over Rs 1,600 crore in GIFT City
Ahmedabad-based real estate firm Nila Spaces Limited is planning to invest Rs 1,600 crore across its two ongoing projects, Vida and Prana, in GIFT City, Gandhinagar. According to the firm, Vida is estimated to require an investment of about Rs 500-525 crore and is expected to be handed over later this year.
The land for the project was acquired for Rs 47 crore and has a carpet area of about 4.25 lakh sq ft. Prana has a carpet area of about 4.40 lakh sq ft, for which the firm acquired the land for Rs 360 crore. The project houses studio, one-bedroom, two-bedroom, and three-bedroom units and comprises 496 units.
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