Real estateMoUs for Ahmedabad in pipeline

The real estate sector is expected to witness a flurry of investments during the ensuing Vibrant Gujarat Global Summit 2019. For Ahmedabad alone, real estate developers are going to sign 385 memorandums of understanding (MoUs) for realty projects worth Rs 20,225 crore during the ninth edition of the biennial event, to be held between January 18 to 20 in Gandhinagar. Of the MoUs lined up so far, 259 proposals with cumulative investment to the tune of Rs 12,841 crore are for developing realty projects in areas falling under Ahmedabad Municipal Corporation (AMC) limits. The remaining 126 MoUs worth Rs 7,384 crore are for localities under Ahmedabad Urban Development Authority (AUDA), said sources in the urban development department. The proposals include all types of real estate projects ranging from residential, townships, bungalows, commercial property to hotels in various parts of Ahmedabad.