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Maharashtra Corp buys 0.44 acre land in Ahmedabad, plans commercial development


Maharashtra Corporation has acquired a 0.44-acre land parcel in Naranpura locality near the Sardar Vallabhai Patel Stadium in Ahmedabad for Rs 45.16 crore to develop a commercial project.

The payment towards the plots of land has been completed in accordance with the objectives outlined during its rights issue in 2022, the company said in a regulatory filing.

Post development, the company expects a revenue of around Rs 120 crores from the sale of the commercial project spread over 1.20 lakh sq ft built up area.

The company is exploring opportunities to expand the existing area and augment the project size to optimize the development potential. This is in line with the company’s expansion strategy, aimed at enhancing its presence in the geographical regions.

As Ahmedabad emerges as a swiftly developing market, there has been a notable surge in real estate activities. The city’s location and favourable business environment have drawn the attention of investors and homebuyers alike, fuelling the growth of its real estate sector.


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