Published On: Fri, Jun 27th, 2014

New real estate developer is emerging in Gujarat’s sector

By Accommodation Times News Services

Real estate imageA new company is entering the real estate market of Gujarat, a very successful businessman Girish Patel founder of Paras Pharmaceuticals is planning to build a 170-acre integrated township project at Sanand, a city lays in Ahmedabad district.  After selling his stake in Paras in 2010, for Rs. 1, 000 crore, he turned investor and now aims to be a developer.

Mr. Girish is closely working on the real estate project planned at Sanand, which he think has the potential to develop into the next Gurgaon. Sanand is hardly 30 km from Ahemadabad and is close proximate to German engineering major Bosch Rexroth, and 2 km from Tata’s Nano project and Ford India’s upcoming plant.

He is planning to develop the township in partnership model, as his partner has another 100 acres adjacent to my plot, and they can develop a much bigger project. Their existing plan comprises to develop a township with residential apartments, commercial complexes, malls, movie multiplexes, a hospital, a school, and a hotel of a four-or-five star category. According to industry sources, the net investment on the project could be to the tune of Rs 2,500 crore.

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