Ahmedabad-based real estate firm Nila Infrastructures Ltd on Thursday said that it has entered into an agreement for construction and implementation of project with another real estate and infrastructure developer Vyapti Infrabuild Pvt Ltd for an amount of Rs 441.6 million.

According to the company, the current move envisages construction of 552 housing units under slum rehabilitation project, at Radha Raman Ni Chali, Bapunagar, Ahmedabad, being executed by Vyapti with the Ahmedabad Municipal Corporation (AMC) under the aegis of Government of Gujarat, Urban Development and Urban Housing Department’s Slum Rehabilitation and Redevelopment Policy 2013 – Integrated Slum In-situ Development on Public Private Partnership (PPP) basis. The project involves construction of about 1,80,000 sq. ft. and shall be completed within 24 months.

Commenting on the development, Deep Vadodaria, COO of the company said: “we congratulate Vyapti for securing such urban development infrastructure project that is beneficial to the society at large. Getting such EPC order on turnkey basis from the reputed firm that is promoted by established realtors is an acknowledgement of our expertise in slum rehabilitation and redevelopment project management and execution. This project stands to benefit from our proprietary skills as apart from construction, this envisages survey, coordination with slum-dwellers through NGO, relocation of slum-dwellers and overall slum rehabilitation and redevelopment project management and execution.”

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