For the project which is aimed at providing budget houses to low and middle-income groups, a special purpose vehicle (SPV), Arvind and Smart Value Homes LLP, has been created to develop the township which will be spread across 135 acres at Vadsar-Kalol Road, about 20 kms from here.
Under the 'Shub Griha' scheme, 1091 low-rise apartments having carpet area from 293 sq ft to 457 sq ft will be built with a price tag between Rs 7.92 lakh and Rs 12.33 lakh.
The project will cover 18 acres of the township land. "This is our first real estate project in Gujarat. The Shubh Griha scheme has been launched here following its success at Boisar and Vashind in Maharashtra (outskirts of Mumbai)," MD