In a significant move, Gap Associates, SUN Realty Partnership, and BMS Projects have acquired a 42,241 sq meter plot in Dholera Special Investment Region (SIR) for Rs 17.42 crore. This joint venture, facilitated by Dholera Industrial City Development Limited's first land auction, aims to leverage the plot's high Floor Space Index (FSI) for extensive development. The deal signals a major boost in Dholera's economic growth and infrastructure, reinforcing its position as a key industrial and urban hub near Ahmedabad, and is set to transform the region's real estate and commercial landscape.
In a landmark deal, a consortium consisting of Gap Associates, SUN Realty Partnership, and BMS Projects has secured a substantial land parcel in the booming Dholera Special Investment Region (SIR). The joint venture successfully bid for a 42,241 square meter plot in this greenfield industrial smart city, marking a significant move in the region's real estate sector.
This land auction was the first for a plot in Dholera SIR. It was conducted by Dholera Industrial City Development Limited (DICDL), which oversees the development of Dholera SIR. The winning bid, securing a 99-year lease, was set at a base price of approximately Rs 17.42 crore, translating to Rs 4,125 per square meter. A senior official from Dholera SIR stated that with 228 acres within the SIR earmarked for tourism and recreational activities, this development is expected to give a substantial boost in the region's economic growth and infrastructure development.
Dholera SIR, located about 100 kilometers southwest of Ahmedabad, is notable for its generous Floor Space Index (FSI) allowance. The maximum permissible FSI for this plot is 5, according to the General Development Control Regulations (GDCR) of Dholera SIR. This high FSI indicates potential for extensive development, ranging from residential to mixed-use projects.
Dholera SIR itself is an ambitious project, sprawling over an extensive 920 square kilometers and encompassing 22 villages in the Ahmedabad district. It represents a major initiative in creating a new industrial corridor in the region. The area has been designed to offer large, unencumbered land parcels of up to 150 hectares, with DICDL facilitating land allotment in a record time of 17-20 days.
The acquisition is part of a broader strategy to develop Dholera as a high-access corridor zone. Dholera SIR had previously announced an e-auction for a residential plot in the town planning scheme 2A, aimed at encouraging multi-story residential and mixed-use development.
In conclusion, this significant land deal by Gap Associates, SUN Realty Partnership, and BMS Projects in Dholera SIR not only marks a pivotal moment in the region's real estate landscape but also paves the way for accelerated economic growth and infrastructural advancements. The strategic location, coupled with the promise of rapid development, positions Dholera SIR as a key player in India's industrial and urban development narrative.
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