Joint ventures – A new trend in the Real Estate Market

By Pallavii Pitale

A new trend of joint ventures has started in the real estate industry.
Recently a textile giant in the country has floated a 50-50% joint venture with a construction house in Gujarat.

A well known brand in Indian Textile industry, Arvind Ltd. has joined hands with Ahmedabad based developer, B Safal group.

A subsidiary Company, Arvind Infrastructures Ltd. has been formed for these Real Estate ventures.

It will launch a Rs. 225-crore residential complex, at Khokhra, just 1 km. away from the well known Kankaria lake. Another project, also the residential one is also in the pipe line. Arvind Ltd. holds about 600 acres of land in and around Ahmedabad, Part of which shall be utilized for these developments.

There is a huge demand for affordable housing in the eastern parts of Ahmedabad. These projects are aimed to fulfill the demands of such people by providing superior quality facilities at affordable rates.

Both the projects are expected to be worth Rs. 500 crore and shall offer 1,400 flats for buyers in the middle class category.