Another mega land deal in city.14,800 sq m plot sells for Rs 400cr

Prime plot, located behind GMDC Ground, bought by Godrej Group from Synthesis Group

- Kuldeep Tiwari

A Diwali lull. Rs 400-crore land deal in Vastrapur area has injected new life into the city's realty market, which had been experiencing a City-based Synthesis Group, which owned a 14,800 sq yard land parcel near GMDC ground in Vastrapur, has sold it to Mumbai-based Godrej Properties Limited (GPL) for Rs 400 crore. This translates to a per sq yard price of over Rs 2.70 lakh per square yard.

Notably, the entire transaction was conducted through a 100 percent cheque payment by GPL to Synthesis Group. Sources close to the development suggest this unique deal indicates GPL may be planning a high-end residential project.