NB Group to Invest ₹350 Crore in New Luxury Housing Project in Ahmedabad

• NB Group launches luxury project ‘NB Palm’ with 136 apartments

• Total investment estimated at ₹350 crore, funded mainly through internal accruals

• Premium homes start from ₹2.5 crore at ₹6,500 per sq ft

Ahmedabad: Real estate developer NB Group has announced plans to invest around ₹350 crore in a new luxury housing project in Ahmedabad, marking another step in the company’s expansion strategy in the city’s growing residential market.

The project, named NB Palm, has already been launched and will feature 136 premium apartments developed on a land parcel of about 6,300 square yards. According to the company, the development aims to cater to the rising demand for high-end residential spaces in Ahmedabad.

NB Group Chairman and Managing Director Nishith Shah said the company expects to invest approximately ₹350 crore to complete the project, with most of the funding coming from internal accruals rather than external borrowing.

The project has been introduced at a starting price of ₹6,500 per square foot, with apartment prices beginning from ₹2.5 crore, positioning it firmly in the luxury housing segment of the city’s real estate market.

According to Parshwa Shah, Director at NB Group, the Ahmedabad housing market has been witnessing steady growth in recent years. In 2025 alone, the city recorded the sale of around 18,700 to 19,000 residential units, representing an annual growth of approximately 2–3 percent.

He noted that today’s homebuyers are increasingly informed and selective, prioritising quality construction, modern design, lifestyle amenities, and timely project delivery when choosing a property.

While the affordable and mid-income segments still form the foundation of Ahmedabad’s residential market, the premium housing category has been gaining traction over the past two to three years. This shift is being driven by rising incomes, evolving lifestyle expectations, and a growing appetite for spacious and well-designed homes.

Founded in 2014, NB Group has steadily expanded its presence in Ahmedabad’s real estate sector. The company has completed eight residential projects so far, delivering around 1,000 housing units.

In addition, more than 500 homes are currently under construction, reflecting the developer’s continued focus on strengthening its footprint in the city’s residential market.

With the launch of NB Palm, NB Group aims to tap into the growing interest in premium housing and further consolidate its position in Ahmedabad’s competitive real estate landscape.

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