New Delhi, March 3 The real estate firm, NB Group, will invest ₹350 crore to develop a luxury housing project in Ahmedabad as part of its expansion plan.
The company has launched a residential project, 'NB Palm', comprising 136 apartments. The land parcel is 6,300 square yards.
Nishith Shah, CMD of NB Group, said the total investment to develop this project is estimated at ₹350 crore.
The company will largely fund the project from its internal accruals.
The company has launched this project at ₹6,500 per square foot. The price of an apartment starts from ₹2.5 crore.
Parshwa Shah, Director at NB Group, noted that the Ahmedabad housing market is witnessing steady growth, with nearly 18,700-19,000 residential units sold in 2025, reflecting around 2-3 per cent annual growth.
"Today, homebuyers are well-informed and seek quality construction, timely delivery, and thoughtfully designed lifestyle amenities," he added.
Shah mentioned that the affordable and mid-range segments remain the backbone of the Ahmedabad housing market.
"Premium housing is witnessing a noticeable rise in demand over the last two to three years due to a shift in consumer mindset," he said.
Established in 2014, NB Group has developed eight projects so far, comprising around 1,000 units.
More than 500 homes are under construction.
NB Group said it would continue to strengthen its presence in Ahmedabad's real estate market.
