NB Group's Grand Rs 350 Crore Investment in Luxury Housing in Ahmedabad

NB Group is investing Rs 350 crore in the luxury housing project 'NB Palm' in Ahmedabad. This development includes 136 apartments, with prices starting at Rs 2.5 crore. The Ahmedabad housing market is seeing growth with rising demand for premium housing, according to company directors.

NB Group has announced a significant Rs 350 crore investment to develop a luxury housing project, 'NB Palm', in Ahmedabad. This strategic move is a part of the company's broader effort to expand its footprint in the thriving real estate market of the city.

The newly launched residential project is set to encompass 136 apartments on a 6,300 square yard plot, with prices beginning at Rs 2.5 crore. According to Nishith Shah, the CMD of NB Group, the investment will be primarily sourced from the company's internal accruals to cover development costs, which are pegged at Rs 350 crore.

Parshwa Shah, Director at NB Group, highlighted the consistent growth in Ahmedabad's housing market, which has seen about 18,700-19,000 units sold in 2025 alone. He noted a rising demand for premium housing, driven by a change in consumer preferences, while affirming continued focus on the affordable and mid-range segments as the market's backbone.

(With inputs from agencies.)