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“As demand for commercial space has seen an upsurge, this plot is expected to see a project with a mix of residential and commercial use,” said a source. AHMEDABAD: The have been some sizzling land deals reported in the city even as the real estate sector here is going through a sluggish phase, due to weakened demand and online plan clearance of new projects moving at a snail’s pace.On Tuesday, the real estate market was abuzz with talks of a leading real estate player sealing a deal to buy a 13,000 square yard plot in the Thaltej area for a whopping Rs 160 crore. Sources in the real estate sector said that a prominent group, with a big presence in both residential and commercial segments, bought a 13,000 square yard plot at a sizzling rate of Rs 1.25 lakh per square yard.Sources said the deal for the premium plot of land, with road on three sides and with potential to be developed into a premium residential and commercial space, was sealed for Rs 160 crore.The develop will get an FSI of 1.8 and can use an additional transferable development rights of 0.8 FSI.Sources informed of the development said that deals worth about Rs 3,000 crore have been signed in Ahmedabad over the last four months, taking land prices to new highs.
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