JLL India, real estate consultancy and professional services firm, has bagged the mandate to monetise around 15 million sq ft of the 200 ha of the Sabarmati Riverfront Development Project in Ahmedabad, Gujarat.
The entire value of the land parcel is estimated to be around Rs 3,500 crore. The mandate to monetise the land parcel for SRFDCL includes offering end-to-end consulting and managing the entire transaction.
Both the strategic consulting and transaction advisory teams of JLL have been roped in to help SRFDCL to monetise the land parcel by conducting real estate market studies and surveys, and prepare marketing, pricing, branding and positioning strategies and transaction advisory.
JLL will help SRFDCL to create a business centre that will offer them business as well as employment opportunities. Phase-II of the project will have 180 high-rise residential complexes along the river banks.
The Sabarmati Riverfront Development Corporation (SRFDCL) is the special purpose vehicle (SPV) created under the Ahmedabad Municipal Corporation (AMC) to develop the project.