NB Group to Invest Rs 350Cr in Ahmedabad Luxury Homes

Real estate developer NB Group has declared a massive Rs 350 crore investment in a new luxurious residential development in Ahmedabad which is a strategic move to venture into the premium housing segment in the changing market demand.

The structure, called NB Palm, will be built on a 6,300-yard land and comprise of 136 luxury apartments, the unit price will range between 2.5 crore and the launch price will be Rs 6500 per sq ft. The company will use its own accruals as the major source of finance to fund the project.

Key Highlights

• Rs 350 crore investment in luxury residential space.
• Nearly 19,000 homes sold in Ahmedabad in 2025, signalling steady demand.
• Premium housing demand growing as buyers prioritise quality and lifestyle.

Nishith Shah, CMD, NB Group, validated the size of investment and the project specifics, and the Directors Parshwa Shah referenced to the consistent home sales of approximately 18,700-19,000 units in Ahmedabad, which corresponded to the increase in the housing market of the city by 23 per cent to 3 per cent. He stressed the point that the informed consumer is becoming more focused on quality construction, delivery on time, and lifestyle.

Although luxury homes are emphasized, the residential segment of Ahmedabad is varied in general. Mid-range and affordable homes are still the stronghold of the market, despite the growing interest of buyers in premium and high-end housing as a result of changing consumer preferences.

This trend is in line with the larger national trends in India, where the demand and need of larger ticket-size housing units is growing past traditional metro markets into emerging and tier-2 cities as customers look at achieving lifestyle improvements and investment prospects.

The residential real estate landscape in Ahmedabad is a two-sided story: affordability and overall demand are the two core ideas of the market; the statistics at the end of 2025 proved that the average prices of the property in the city increased, and the city is frequently discussed as one of the most affordable markets in the country of India.

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Simultaneously, there is an external market report of certain cooling off in wider Tier-2 sales and difficulties including sluggish growth in segments. However, Ahmedabad is becoming a strategic growth centre to investors and developers due to the consistent growth in infrastructures and an increasing urban space as well as the rising popularity of lifestyle oriented houses.

Data, Stats, Quotes & Figures

• Investment: Rs 350 crore for NB Palm luxury housing project.
• Project Size: 136 apartments on a 6,300 sq yd land parcel.
• Pricing: Rs 6,500 per sq ft; apartments from Rs 2.5 crore.
• Funding: Project largely funded from internal accruals.
• Market Sales (2025): Around 18,700–19,000 residential units sold in Ahmedabad — ~2–3% growth.
• Developer Footprint: NB Group has delivered ~1,000 units and has 500+ under construction.

“Today, homebuyers are well-informed and seek quality construction, timely delivery, and thoughtfully designed lifestyle amenities.” - Parshwa Shah, Director at NB Group

• Market Context (PropTiger Q3 2025): Ahmedabad remained among the most affordable major real estate markets, with average prices rising.
• Trend Insight (Knight Frank H1–H2 2025): Higher ticket sizes in residential launches (Rs 5-10M & above) are gaining share.
• Tier-2 Cities: Housing sales in top-tier-2 cities saw a pullback in some quarters of 2025, but Ahmedabad showed resilience relative to peers.