Builders from Chennai evinced interest for realty projects in Gujarat. Around 50 members of CREDAI will sign investment agreements in the upcoming Vibrant Gujarat summit.
Besides investments, the upcoming Vibrant Gujarat summit is likely to boost housing supply in the state, especially in the smaller cities and towns. Around 50 members of Confederation of Real Estate Developers’ Association of India (CREDAI), an apex body of builders, will sign investment agreements worth Rs 15,000 crore, mostly housing projects, at the summit. Builders from Mumbai, Delhi, Bangalore, Pune, Hyderabad, Chennai, Kolkata, Jaipur, Coimbatore and Mohali have already evinced interest for realty projects in Gujarat.
“This for the first time CREDAI is participating in Vibrant Gujarat summit,” says Jaxay Shah, president of CREDAI, Gujarat. Many of them may join hands with local developers. Already, national players like Godrej, DLF, Indiabulls and Rahejas have presence in the state.”Gujarat is emerging as an important market,” says Getamber Anand, vice-president of CREDAI. Anand’s Noida-based company ATS Infrastructure is planning to invest Rs 250 crore for affordable housing projects
Everest Developers, promoted by Nainesh Shah, who is a secretary of CREDAI, plans to invest Rs 250 crore in Ahmedabad, Vadodara and Surat.
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