Gift city gets a wellness twist: Nila spaces launches ‘Prana’

Nila Spaces Ltd has announced an investment of around Rs 900 crore to develop a housing project at GIFT City near Ahmedabad, Gujarat, as part of its ongoing expansion plans. The new project, named Prana, spans 1.37 acres and will feature 696 residential units alongside approximately 20,000 sq ft of commercial space.

Apartment sizes range from 360 sq ft to 790 sq ft in carpet area, with prices set between Rs 87 lakh and Rs 1.8 crore. According to CEO Deep Vadodaria, the company has already sold 20% of the units, reflecting strong demand among homebuyers in the region. The project is expected to be completed in 42 months, or by 2028–29, offering modern urban living spaces with a focus on sustainability and wellness-oriented design.

“Urban spaces today require a lens focused on sustainability, community, and experiential wellness,” Vadodaria said. He highlighted that globally, By 2030, the world will see $1.5 trillion worth of buildings and projects designed for health, wellness, and well-being, while India is still in the early stages of this trend. Nila Spaces is integrating these concepts into the Prana project to offer residents healthier and more sustainable lifestyles.

Regarding project funding, Vadodaria noted that, given the strong sales momentum, external financing may not be necessary. However, the company has sanctioned credit limits with Bajaj Finserv as a contingency.

Nila Spaces, which is listed on stock exchanges, is also expected to deliver its first housing project of 496 units next year, 2026, marking a key milestone in the company’s growth. In the last financial year, Nila Spaces reported a net profit of Rs 14.67 crore on a total income of Rs 144.38 crore.

The demand for housing in GIFT City has been robust, driven by professionals relocating to the city’s financial and tech hub, reflecting a broader trend in Ahmedabad’s real estate market, where sales and prices have been steadily rising. By combining residential, commercial, and wellness-oriented living, Nila Spaces aims to create a modern urban community that meets evolving buyer expectations.