Ahmedabad’s landmark Keshavbaug Party Plot finds buyer

26 Dec 2022 CW Team

The process to sell Ahmedabad’s famous Keshavbaug Party Plot has begun. The plot is around 7,400 square yards, and according to a report citing sources, city-based Aaryan Infrabuild Pvt Ltd has finalised the deal with owners of the plot and will launch a project on the plot soon. The deal size is about Rs 2 billion.

Keshavbaug Party Plot has been a landmark for more than two decades and the area has seen rapid development in recent years, including a hotel by a leading hospitality chain.

A source closely associated with the Aaryan Group confirmed the deal and said a commercial building with a built-up area of around 500,000 sq ft will be constructed on this land. “The buyer is not eyeing a tall building but will develop a unique 14-floor commercial project with high-end retail and office spaces as the demand for premium office and retail spaces is increasing and the location has good connectivity,” he said.

Keshavbaug Party Plot owners couldn’t be reached for the comment.

Tejas Joshi, president of CREDAI Ahmedabad, said, “Ahmedabad is one of the fastest growing metro cities but prices are still lower compared to other metro cities of the country. We have seen some record deals in the past one year and with growing demand for premium locations, we expect this trend to continue. With Metro train and SG Highway connectivity, property demand is increasing steadily.”