Arvind SmartSpaces (ASL) has signed an agreement for a large horizontal (plots and Villas) multiuse golf themed development project in Surat, with a total estimated area of around 300 acre and a top-line potential of around Rs 1,100 crore. This project is located in Northern Surat along the NH 48 and would be ASL’s 19th project in Gujarat. The project is signed under the joint development model (55% Revenue share) enabling low capital intensity and higher returns.
This project marks the entry of ASL into the high potential Surat market. This will be the third city in Gujarat apart from Ahmedabad and Gandhinagar. Surat is a well-established business hub and has emerged as one of the promising markets for plotted development /weekend homes in Gujarat. The project location has a well-developed connectivity with various parts of Surat with close proximity to the industrial cities of Ankleshwar and Bharuch. The project is envisaged to be first large-scale plotting project in Surat with a golf course, large clubhouse, orchards with several thousand full grown trees and a private lake.
Arvind SmartSpaces is engaged in to the business of Construction and Real Estate.
