Ganesh Housing set to build costliest villa

The rising standards of living in Ahmedabad can well be gauged by the prevailing property prices.

For now, city-based Ganesh Housing Corporation Ltd, a leading real estate firm, will be coming up with the costliest bungalows yet.

The integrated township, to be constructed by the company on the outskirts of the city, will feature high-end villas priced as high as Rs 3 crore.

"We will be the first to come up with the costliest villas in the city. These villas will be priced from as low as Rs 30 lakh to as high as Rs 3 crore. There are several one crore bungalows and villas but these villas at our integrated township, at Rs 3 crore, will be the costliest till now," said Shekhar Patel, Managing Director, Ganesh Housing Corporation Ltd.

"We will be constructing around 150 of these high-end villas on quarter, half or one acre area. The work on the overall project will begin by October and will take around five years to complete," said Bhavin Mehta, head-business development, Ganesh Housing.

The company is already in talks with several foreign firms for partnering it for the Rs 1,200 crore project.

"Seven global firms have shown interest as project partners for funding and marketing the project internationally. While we would be bearing 70-75 per cent of the project cost, the remaining will be through such project partners," added Mehta.

The integrated township will be spread over 21 million sq ft of area and would feature, apart from the costliest villas, high-end luxurious apartments, malls, multiplex, hospital, international school, among other amenities.

Patel returned recently from a business trip to Japan and is hopeful to see some Japanese companies partnering Ganesh Housing in the project.

Ganesh Housing is also constructing an IT Special Economic Zone (SEZ) on the outskirts of Ahmedabad.