Ahmedabad-based developer Sanghavi Realty purchased the 5,400-square yard plot for an estimated Rs 160 crore for a commercial project, according to sources privy to the development.
The plot was owned by the family of a city-based entrepreneur who passed away recently. Siddharth Sanghavi, the promoter of Sanghavi Realty, however, remained tight-lipped about the deal.
By far, this is pegged to be the costliest land deal in Ahmedabad, the previous best being the sale of a plot near Rajpath Club for Rs 2.95 lakh per square yard. In the past year-and-a-half alone, Iskcon-Ambli Road has seen land deals worth at least Rs 2,000 crore.