NILA Spaces Limited has assigned the construction contract for its upcoming premium residential development at GIFT City to Riveria Infrastructure Private Limited. The project is located on a prime plot for which NILA Spaces secured the rights last year through a record bid of ₹6,557 per square foot for development rights in the Special Economic Zone (SEZ). This makes it the most expensive parcel of land, in absolute terms, in the state of Gujarat.
The construction contract, valued at ₹129.25 crores (Indian Rupees One Hundred Twenty-Nine Crores and Twenty-Five Lakhs only), includes the core and shell construction of the residential towers. The project is scheduled to be completed over 27 months from the date of commencement.
This development marks a significant milestone in NILA Spaces’ journey to deliver on its vision of Power Living a philosophy rooted in high-energy, purpose-driven, and wellness-oriented environments. The upcoming residential enclave will serve as a sanctuary within the urban landscape, offering thoughtfully designed living spaces that promote relaxation, rejuvenation, and high performance.
Deep Vadodaria, CEO of NILA Spaces Limited, stated, “This project is an expression of what we call Power Living where every element is designed to help residents live with intention, vitality, and balance. With this new development at GIFT City, we’re not just building homes we’re crafting a lifestyle that redefines what it means to thrive in a modern city. We’re excited to work with Riveria Infrastructure to bring this vision to life and set a new benchmark for residential development in India’s first smart city.”
With this project, NILA Spaces aims to set new standards in sustainability, community engagement, and holistic well-being, positioning itself as a future-ready and socially responsible brand in India’s evolving real estate ecosystem.
