Press Release15 Jun 2024, 10:02 pm
Nila Spaces Wins Bid for Major Residential Project at GIFT City with INR 750 Crore Investment
AI Summary
Nila Spaces Ltd (NSE: NILASPACES; BSE:542231) has won the bid for a significant residential building development project at GIFT SEZ, GIFT City. The project, located on building footprint 26-C, involves the development rights for a minimum of 5,22,000 square feet, calculated at INR 6,557 per square foot. The total value of the development rights is INR 342.27 Crore. Nila Spaces will invest INR 750 Crore in this project, aiming to create state-of-the-art residential spaces that cater to the evolving needs of urban living, blending modern amenities with sustainable practices. This is Nila Spaces' second major venture at GIFT City, following the successful VIDA project in the Domestic Tariff Area (DTA) of the city.
Key Highlights
- Nila Spaces wins bid for a significant residential building development project at GIFT SEZ, GIFT City.
- The project involves the development rights for a minimum of 5,22,000 square feet, calculated at INR 6,557 per square foot.
- Nila Spaces to invest INR 750 Crore in this project.
- The project aims to create state-of-the-art residential spaces that cater to the evolving needs of urban living.
- This is Nila Spaces' second major venture at GIFT City.