India, Feb. 17 -- Listed real estate developer Arvind SmartSpaces has bought a 150-acre land parcel in Gujarat and plans to develop a plotted development project with an estimated sales value of Rs.600 crore.

In a regulatory filing on February 17, the company said it has "signed a new residential plotted development project in Ahmedabad, with a total estimated area of 150 acre and a topline potential of Rs.600 crore."

The company did not disclose the deal value and name of the seller.

The company said that the project covers 150 acres and has a saleable area of 6.6 million sq ft. It is located on Sanand-Nalsarovar Road, Ahmedabad, and was acquired on an outright basis.

According to the company, the project is strategically located app...