Tag Archives: ahmedabad property news

Alpha G:Corp unveils largest mixed used city centre in Ahmedabad

Posted on by Track2Realty

india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, india news, property news, real estate news, India Property, Ahmedabad real estate news, Ahmedabad property news, Alpha OneAlpha G:Corp on Monday, September 17, unveiled ‘AlphaOne’, the largest mixed used city centre in Ahmedabad. Spread across an area of over 1.2 million square feet, the city centre will house some of the biggest brands in retail and entertainment in the country including Lifestyle, Cinepolis, Shoppers Stop, and HyperCity, among others.

The initial investment for AlphaOne, Ahmedabad is over Rs.360 crore for Phase – 1 with hypermarket, big-format retailing, standalone boutiques, world’s 2nd largest operator of the 6-screen multiplex, hospitality and F&B including one of the largest and choicest food courts in India. The retail development will also cater to daily shopping needs, varied cuisine, fine dining and entertainment.

Talking about the launch of AlphaOne, Prodipta Sen, Executive Director, Marketing (Corporate Affairs and Retail), Alpha G:Corp, said that the developer had set up innovative systems and procedures based upon sustained research from the time the project was finalised.

“According to our research, consumers in Ahmedabad seek value by way of memorable experiences. This spirit and its results will be evident in the coming times. We look forward to great success in this venture for each person present here. With its unique and constant evolving offerings, AlphaOne, Ahmedabad will catch the imagination of Ahmedabad and surrounding areas. For the Amdavadis, we have decided that we will keep on bringing new international, national and regional brands to AlphaOne,” Sen added.

The mixed-use development comprises retail, entertainment, and hospitality. Of these, retail cum entertainment alone will comprise of 720,000 sq. ft.

“AlphaOne Ahmedabad will see an integrated mix of all categories like hypermarket, big-format retailing, departmental store, specialty dining, stand-alone boutiques, a 6-screen multiplex by Cinepolis, a premium hotel managed by Ista, and one of the largest food courts in the city. Among brands, Hypercity will occupy the largest space of 140,000 sq ft,” said Sen.

With over 80 per cent of the city centre being leased out to prominent brands such as Shoppers Stop, Hypercity, Cinepolis, Madura and Lifestyle, the AlphaOne, Ahmedabad has been designed and conceived by ARCOP architects firm.

Adani Realty to invest Rs. 5,000 crore in township

Posted on by Track2Realty

Ahmedabad, Gujarat Real Estate, Gujarat Jantri, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news indiaAdani Realty Business, the real estate arm of the Adani Group, plans to invest Rs.5,000 crore in the group’s upcoming township in Ahmedabad. The total investment is expected to be sale-revenue funded, without any debt.

The group is developing a 600 acre township named Shantigram in Ahmedabad in a phased manner. Out of the Rs.5,000 crore investment, more than Rs.3,000 crore is the value of the land, which is owned by the Adani family.

The payment for this land, which has been transferred to a new wholly owned special purpose vehicle (SPV), will be made in a staggered manner over the next three to four years.

The remaining Rs.2,000 crore is the development cost, of which more than Rs.700 crore has already been infused. The company is confident to funding the project as well as paying the total land value through sale-revenue generated over a period of time.

The Phase I of the project, which has already started, will be completed by August 2014. This includes two housing units, of which one will be in the middle segment and the other in the luxury space.

The township will include residential, commercial, hospitality, healthcare, and entertainment facilities.

“Nearly Rs.600 crore worth of apartments have already been sold and it is expected that before the end of this financial year another 2,000 apartments/villas will be sold, which will generate additional sales revenue of about Rs.1,200 crore,” a company spokesperson said.