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Ahmedabad: A building near which a popular CA coaching institute is situated Vijay Chauraha Sold to a developer. According to sources, the deal has been done for around Rs 20 crore.
Ahmedabad based Yashasvi Group have bought Navkar Institute building. its promoters, liver loadconfirmed the deal but declined to share details of the deal size.
He said, “We have acquired the Yogeshwar Apartment at Vijay Chauraha. commercial Complex. The institute is located next to the society, so we bought the building to help increase the plot size and project area.” He said that the group plans to develop 1.25 lakh square feet of built-up area.
According to sources, the building is spread over 1,200 square yards and has been sold at the rate of Rs 1.7 lakh per square yard. “With the metro train passing through major areas of the city, Ahmedabad is again witnessing a stir in the real estate sector. Availability of higher floor space index (FSI) will encourage developers to buy old buildings for new projects,” said a real estate consultant.
Navkar Institute is an established CA Coaching Center. Since 1997, it has been training candidates for CA, CS, US CPA, US CMA, US CFA, UK ACCA and IELTS exams.
Hitesh Shah, founder of Navkar Sansthan, declined to comment on the deal.
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