Real Estate

Real Estate Transactions

Savvy Group to invest Rs 1,000-Cr to develop commercial, residential projects in GIFT City

Economic Times  

Realty developer Savvy Group is planning to invest over INR 1,000 crore in Gift City to develop both commercial and residential projects in the emerging global financial and information technology services hub. Savvy Group will soon start work on its second commercial tower in GIFT city. Gift City has allotted around 1.5 million sq ft saleable area to Savvy Group for development of commercial, residential and social buildings in the special economic zone (SEZ) taking its total development potential to over 2 million sq ft including earlier sanction. Out of 2 million sq ft, the company has delivered over 0.5 million sq ft with an investment of INR 350 crore. Savvy will invest around INR 700 crore more to develop around six such projects taking its total investment in GIFT City to INR 1,000 crore.