Record-Breaking Clearance: Nila Spaces Secures RERA Nod for GIFT City Residential Towers

Image Source : Nila Spaces Limited

Nila Spaces Ltd has received swift approval from the Gujarat Real Estate Regulatory Authority (GujRERA) for its upcoming residential project in GIFT City, Gandhinagar. The project, named Vida, is set to redefine urban living with high-rise towers and sustainable design features.

Key Highlights From the Approval and Project Scope

- RERA registration was granted within 12 working hours of application and just 102 hours after GIFT City authority approved the plan
- The project will span a built-up area of 52,206 sq m on a 5,128 sq m plot, achieving an FSI of 10.18—among the highest in Gujarat
- Vida will feature two residential towers, each rising to 117 meters, with an estimated project cost of Rs 450 crore
- The development will integrate solar panels, rainwater harvesting, and waste management systems
- Apartments will include Studio, 1, 2, and 3 BHK configurations with modular kitchens, air conditioning, and premium fixtures

Strategic Context and Developer Vision

- Nila Spaces aims to deliver a modern, eco-conscious lifestyle in India’s premier financial and tech hub
- The rapid RERA approval reflects the efficiency of RERA 2.0 and the developer’s meticulous documentation
- Vida is expected to attract professionals and global residents working in GIFT City’s fintech and institutional ecosystem

Outlook

With regulatory green lights secured, Nila Spaces is poised to begin construction on one of Gujarat’s most ambitious residential projects, setting new benchmarks for speed, scale, and sustainability.

Sources: Times of India, Vibes of India, Moneycontrol, Rediff MoneyWiz, BSE India, Nila Spaces Ltd official site