Lulu Group creates history in Ahmedabad; Purchases land for Rs 519.41 crore, stamp duty record of Rs 31 crore

AHMEDABAD: Lulu Group has purchased 16.35 acres of land in Ahmedabad for Rs 519.41 crore. The largest land transaction of all time has taken place in Chandkheda, Gandhinagar, the constituency of Union Home Minister Amit Shah. Lulu also holds the record for the highest stamp duty received from a single sale agreement through this transaction.

The government received an income of Rs 31 crore in stamp duty alone through this sale. The registration was done at the Sabarmati Sub-Registrar's office. This is the highest value land sale registered in Ahmedabad city in terms of transaction amount and stamp duty revenue.

Although sale deeds worth Rs 300 to 400 crore have been registered in Ahmedabad, no land transaction worth more than Rs 500 crore has taken place yet. This makes Lulu the biggest land deal in the city.