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NB Group has announced an investment of INR 350 crore to develop a luxury residential project in Ahmedabad. The project, named NB Palm, comprises 136 apartments spread across a 6,300 square yard land parcel. The development is being funded largely through internal accruals. Homes are priced at INR 6,500 per sq ft, with apartment prices starting from INR 2.5 crore. The company said Ahmedabad's housing market continues to see steady demand growth, particularly in the premium segment over the past few years, alongside strong performance in affordable and mid-income categories.
NB Group has announced plans to invest INR 350 crore in a new luxury housing development in Ahmedabad as part of its ongoing expansion strategy. Advertisement
The company has launched a residential project named NB Palm, which will feature 136 apartments on a 6,300 square yard land parcel. The total investment for the development is estimated at INR 350 crore, according to Nishith Shah, Chairman and Managing Director of NB Group. He stated that the project cost will be largely funded through internal accruals.
The project has been launched at a base price of INR 6,500 per sq ft. Apartment prices start from INR 2.5 crore, positioning the development in the premium category of Ahmedabad's residential market.
Parshwa Shah, Director at NB Group, said that the Ahmedabad housing market has been witnessing steady growth. He pointed out that nearly 18,700 to 19,000 residential units were sold in 2025, reflecting an annual growth of around 2 to 3 per cent. He added that homebuyers today are well-informed and are looking for quality construction, timely delivery, and well-planned lifestyle amenities.
He further explained that the affordable and mid-range segments continue to form the backbone of Ahmedabad's housing market. At the same time, premium housing has seen a noticeable rise in demand over the past two to three years, driven by a shift in buyer preferences and improving purchasing power.
Established in 2014, NB Group has so far developed eight projects comprising around 1,000 units. More than 500 homes are currently under construction. The company said it will continue to strengthen its presence in Ahmedabad's real estate market as it expands its project portfolio in the city.
Source PTI
FAQ
1. What is NB Group's new project in Ahmedabad?
NB Group has launched a luxury residential project named NB Palm in Ahmedabad. The development will comprise 136 apartments built on a 6,300 square yard land parcel. The company has positioned the project in the premium housing segment as part of its expansion strategy in the city.
2. How much is NB Group investing in NB Palm?
The total estimated investment in NB Palm is INR 350 crore. According to the company's management, the project will be largely funded through internal accruals, reflecting NB Group's financial stability and long-term commitment to the Ahmedabad market.
3. What is the pricing of apartments in the project?
Homes at NB Palm are priced at a base rate of INR 6,500 per sq ft. Apartment prices start from INR 2.5 crore, placing the project firmly in the luxury category. The pricing reflects the project's positioning, construction quality, and planned lifestyle amenities.
4. What is the current trend in Ahmedabad's housing market?
As per company officials, Ahmedabad recorded sales of nearly 18,700 to 19,000 residential units in 2025, indicating annual growth of around 2-3 percent. While affordable and mid-income housing continue to dominate volumes, the premium segment has witnessed rising demand over the past two to three years due to improving purchasing power and evolving buyer preferences.
5. Why is NB Group focusing on the premium segment?
The company believes there is a growing shift among buyers towards larger, better-designed homes with modern amenities. Well-informed homebuyers are prioritising quality construction, timely delivery, and lifestyle features. This trend has supported demand in the premium category alongside steady activity in other segments.
6. What is NB Group's track record in the Ahmedabad market?
Established in 2014, NB Group has delivered eight projects comprising around 1,000 residential units. More than 500 homes are currently under construction. With NB Palm, the company aims to further strengthen its presence and expand its portfolio in Ahmedabad's real estate market.
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