GAP Associates to invest Rs 500 cr to develop nearly 20 projects at Dholera, Gujarat

The company has recently received RERA (Real Estate Regulatory Authority) approval from the Gujarat Real Estate Regulatory Authority for its maiden residential project named Greenera Gardenvilla inside Dholera Special Investment Region (Dholera-SIR).

NEW DELHI: Realty firm GAP Associates Pvt Ltd will invest around Rs 500 crore to develop nearly 20 projects at industrial smart city Dholera, in Gujarat.

The company has recently received RERA (Real Estate Regulatory Authority) approval from the Gujarat Real Estate Regulatory Authority for its maiden residential project named Greenera Gardenvilla inside Dholera Special Investment Region (Dholera-SIR).

Ambrish Parajiya, Director, GAP Associates Pvt Ltd: "We will soon launch our first housing project in Dholera-SIR. We are in the process of taking RERA approvals to develop more projects."

He said the company has a huge landbank in Dholera SIR.

Parajiya said the company has plans to launch 18 projects in Dholera-SIR mostly housing and few commercial and industrial projects.

GAP Associates plans to develop 13 housing projects, comprising over 500 units, with an investment of more than Rs 300 crore. Two industrial projects will be constructed at a cost of over Rs 40 crore.

The company will also develop three commercial projects, including a hotel, having a total of nearly 750 units with an estimated investment of over 165 crore.

"For us, the long-term goal is to continue to remain the top realtor in the SIR region, while planning and building different projects, developing lands and selling plots, and boosting furthermore the investment ecosystem and opportunities in Dholera," Parajiya said.

Dholera-SIR is a greenfield industrial smart city planned and located approximately 72 km South-West of Ahmedabad.