# Lulu Group Seals Ahmedabad’s Biggest Ever Land Deal: ₹519.41 Crore Transaction Sets Record in Real Estate URL: https://technosports.co.in/lulu-group-seals-ahmedabads-biggest/ Published: 2025-10-22 Updated: 2025-10-22 Author: Reetam Bodhak Lulu Group, the UAE-based retail giant owned by billionaire M.A. Yusuff Ali, has made headlines by completing the **[largest ](https://en.wikipedia.org/wiki/LuLu_Group_International)land acquisition in Ahmedabad’s history**, further showcasing its robust expansion strategy in India’s commercial real estate sector. The historic transaction took place in Chandkheda, Gujarat, and is set to carve a new chapter in Ahmedabad’s economic landscape. ## Lulu Group Overview of the Land Deal | Detail | Information | | --- | --- | | Buyer | Lulu Group (LuLu International Shopping Malls Pvt Ltd) | | Location | Chandkheda, Ahmedabad, Gujarat | | Land Area | 66,168 square meters (16.35 acres) | | Transaction Value | ₹519.41 crore | | Price per Square Meter | ₹78,500 | | Stamp Duty Paid | ₹31 crore (Record highest for Ahmedabad) | | Date of Purchase | June 18, 2024 (Auction) | | Sale Type | Outright sale, not 99-year lease | | Registration Location | Sabarmati Sub-Registrar Office, Ahmedabad | | Seller | Ahmedabad Municipal Corporation (AMC) | ## Significance of the Deal ![Lulu Group](https://technosports.co.in/wp-content/uploads/2025/10/image-1847.webp) This ₹519.41 crore land deal has set new benchmarks in Ahmedabad’s booming real estate market. It is the **first-ever transaction crossing the ₹500 crore mark**, notably higher than previous top-tier sales that maxed out between ₹300 crore and ₹400 crore. Also, the state treasury earned a record **₹31 crore in stamp duty** from this one transaction—an unprecedented revenue milestone. The outright transfer contrasts with earlier practices where high-value land was primarily leased for 99 years. The shift aligns with government efforts to attract direct investments and boost commercial development. ## Location and Future Development The acquired land in Chandkheda lies near the **SP Ring Road**, renowned for its connectivity and commercial potential. Lulu Group plans to launch **a mega shopping mall, hypermarket, and integrated commercial projects**, aiming to expand its retail footprint significantly in Gujarat. This ambitious development will bring multiple economic benefits, accelerating Ahmedabad’s urban growth and infrastructure development. --- ## Political and Strategic Importance The land falls within the parliamentary constituency of **Union Home Minister Amit Shah**, adding strategic significance to the deal. Given Ahmedabad’s rapid growth as an economic hub, this investment symbolizes confidence in the city’s future. ## Government and Auction Details The land was initially offered for auction online by Ahmedabad Municipal Corporation (AMC) on June 18, 2024, with a base price of ₹76,000 per square meter. Challenges in land possession delayed registration because about 10,672 sq meters were still under cultivation. Once AMC gained full control, the policy was revised from lease-based agreements to outright sales for commercial plots. ![](https://technosports.co.in/wp-content/uploads/2025/10/image-1848.webp) ## Impact on Ahmedabad’s Real Estate Market - **Boost to Investment Confidence:** Lulu’s massive deal inspires confidence among developers and investors in Ahmedabad’s retail and commercial sectors. - **Revenue Growth:** Record stamp duty payment benefits the state’s coffers significantly. - **Job Creation:** Large-scale mall and infrastructural projects promise employment opportunities during construction and operations phases. - **Urban Expansion:** Anticipated to lead to infrastructure improvements and enhanced commercial activities in Chandkheda. ## External References - *Mathrubhumi*: [Lulu Group Ahmedabad Land Deal Report](https://english.mathrubhumi.com/news/india/lulu-group-seals-ahmedabads-biggest-ever-land-deal-at-51941-cr-pays-record-31-cr-stamp-duty-d9z6cy4q) - *Times of India*: [Ahmedabad’s Largest Land Sale Sets Stamp Duty Record](https://timesofindia.indiatimes.com/city/ahmedabad/ahmedabads-biggest-land-deal-sets-stamp-duty-record-of-31cr/articleshow/124642851.cms) - *Radiance News*: [LuLu Group’s Major Land Purchase](https://radiancenews.com/lulu-group-yusuff-ali-ahmedabad-land-deal/) ## Internal Links from TechnoSports.co.in - Explore Ahmedabad’s real estate growth: [TechnoSports Real Estate](https://technosports.co.in/real-estate/) - Latest business and investment news: [TechnoSports Business](https://technosports.co.in/business/) ## FAQs ### **Q1: What makes Lulu Group’s land deal in Ahmedabad historic?** It is Ahmedabad’s biggest ever land deal, valued at ₹519.41 crore, and it also generated the highest stamp duty payment of ₹31 crore in the city’s history. ### **Q2: What are Lulu Group’s plans for the newly acquired land in Chandkheda?** Lulu Group aims to develop a large shopping mall, hypermarket, and integrated commercial projects, significantly strengthening its presence in Gujarat.