Sobha launches premium residential project in GIFT City

Real estate developer Sobha Ltd on Tuesday said it has launched its second project ‘Sobha Avalon’ in Gujarat International Finance Tec-City GIFT City, to expand its portfolio in the state. The premium 31-storeyed residential project is spead across 5,400 square meters.

Bengaluru-based Sobha had earlier launched its ‘Dream Heights’ project in GIFT City.

The developer said the project, Avalon, has a 7,070 sq. ft clubhouse, indoor and outdoor gyms, a terrace lounge and co-working space, among other features. It has 268 units ranging from 735 sq. ft to 2,277 sq. ft, including eight units with private terraces.

“We are very happy to be a part of GIFT City, which has been recently accorded ‘Platinum’ certification for Green Master planning, design, and implementation of its Phase-I development by Indian Green Building Council (IGBC). The announcement about the Ahmedabad metro rail network by 2024 and increasing overseas investments is making GIFT city a desired commercial and residential hub. Sobha Avalon blends in providing residents a luxury abode and caters to the ‘walk-to-work’ concept on which GIFT City is built. The pandemic has led people to lead an active lifestyle and the project is equipped to address this need,” said Ravi Menon, chairman, Sobha.

Earlier this year, the Gujarat government issued a resolution to allow even those not working within GIFT City to reside there.Until then, only those working in GIFT City could occupy residences there. The government had earlier relaxed the ownership condition by which any entity could develop and own residential property in it.