Nila Spaces Limited has announced that its wholly owned subsidiary, Nila Urban Living Private Limited, has awarded a construction contract worth ₹129.25 crore to Riveria Infrastructures Private Limited for a flagship premium residential project at GIFT City.
The contract includes core and shell construction of residential towers on a prime plot within the Special Economic Zone (SEZ) of GIFT City. This parcel of land was secured by Nila Urban Living last year through a record bid of ₹6,557 per square foot, making it the most expensive land acquisition in Gujarat by absolute value.
The project is expected to be completed in 27 months from the start date.
“This project is a powerful expression of what we call Power Living — where every element is designed to help residents live with intention, vitality, and balance,” said Deep Vadodaria, CEO of Nila Spaces Limited. “With this new development at GIFT City, we’re not just building homes — we’re crafting a lifestyle.”
Nila Spaces aims to deliver a blend of wellness-focused, community-driven residential development that reflects sustainability, purpose, and urban comfort in India’s first smart city.
Disclaimer: The transaction is not a related party transaction, and neither the promoter nor promoter group has any interest in the awarded work.
