Nila Spaces to Invest ₹1,600 Crore in Vida and Prana at GIFT City

Quick Summary 

• Nila Spaces will invest more than ₹1,600 crore in its two housing projects in GIFT City, Gandhinagar. 

• Vida will cost about ₹500 to ₹525 crore and is due for handover later this year. 

• Prana will have 496 homes in studio, 1 BHK, 2 BHK and 3 BHK formats. 

• Prana is registered with Gujarat RERA till 31 December 2030. 

Ahmedabad-based builder Nila Spaces plans to invest more than ₹1,600 crore in GIFT City. The money will go into its two ongoing housing projects there, Vida and Prana. The news was reported in mid-September 2026. 

Nila Spaces GIFT City Projects: Key Facts 

Vida GIFT City: Handover Due This Year 

Nila Spaces expects Vida to cost between ₹500 crore and ₹525 crore. The company plans to hand over the homes later this year. It paid ₹47 crore for the land. The project has a carpet area of about 4.25 lakh sq ft. 

Vida has studio, 1 BHK, 2 BHK and 3 BHK apartments. The project also has sky parks, a green outer wall, and shared spaces for work, fitness and dining. 

Vida Is Listed for Small Online Investment 

In May 2026, Nila Spaces listed Vida on Alt DRX, a platform that sells property in small digital parts. It was the first GIFT City property listed there. Indians living in India can buy a share worth as little as one square foot. Each share is linked to a real property on which stamp duty has been paid, and the ownership is legally valid. 

Nila Spaces Prana GIFT City: 496 Homes in a 100 Metre Tower 

Prana will have a carpet area of about 4.40 lakh sq ft. As per the latest report, the land cost ₹360 crore. The project will have 496 homes in studio, 1 BHK, 2 BHK and 3 BHK sizes. 

Land Won in a Record Auction 

Nila Spaces won the Prana plot in an auction in June 2024, where it was the top bidder among 11 companies. The deal allows it to build 5.22 lakh sq ft on a plot of 5,550 square metres. The company bid ₹6,557 per sq ft. In total value, this made the plot the most expensive land deal in Gujarat at that time. The company plans a 100 metre tall residential tower on this land. 

RERA Approval and Builder Details 

Gujarat RERA approved Prana on 10 July 2025. The registration is valid till 31 December 2030. The project is being built by Nila Urban Living Private Limited, and Nila Spaces owns 90% of this company. 

Prana Price Range 

Prana launched in September 2025 with homes priced between ₹87 lakh and ₹1.8 crore. By then, 20% of the homes were already booked. These were launch prices, so ask the builder for current rates. 

Prana Design Team 

• Brand identity: designed by the global brand firm Interbrand. 

• Architecture: planned by the German design studio Blocher Partners. 

• Resident services: Quintessentially will provide services such as travel, wellness, dining and education support. 

Why Prana Is Called a Wellness Project 

Prana is designed around four things: clean air, clean water, better sleep and less noise. The planned features include: 

• air filters 

• alkaline water 

• bedrooms with temperature control 

• sound insulation 

Health Tech Partners Added in 2026 

• Ultrahuman: Nila Spaces signed a partnership with Ultrahuman in August 2026. Its home health devices will first be placed in Vida's sample flats, which were designed by IKEA. Prana will get them later. 

• DreamSpan: The Sleep Tech Company signed a deal with Nila Spaces worth up to ₹100 crore. Its sleep technology is planned for every bedroom at Prana. 

Some Prana Figures Have Changed 

Older news reports show different numbers for Prana: 

• Investment: In September 2025, the plan was to spend ₹900 crore on Prana. The new ₹1,600 crore total for both projects suggests that Prana's budget has gone up. 

• Units: A 2025 report said Prana would have 696 apartments on 1.37 acres, along with 20,000 sq ft of shop space. The September 2026 report says 496 units. 

• Land cost: Reports in 2024 said the land deal was worth ₹342 crore. The latest report says ₹360 crore. 

Nila Spaces has not publicly explained these changes. Buyers should check the final unit count and plans on the GujRERA website. 

What This Means for GIFT City Home Buyers 

Most land in GIFT City is set aside for offices, so only a few new homes come up for sale. Because of this, prices have gone up fast: 

• Home rates in GIFT City were about ₹4,500 per sq ft in 2020. They are above ₹10,500 per sq ft in 2026. 

An asking price on a property website is not always the final deal price. 

Jobs are the main reason for this demand. By March 2026, IFSCA had given 1,147 final registrations in GIFT IFSC, and banks there held more than USD 111 billion in assets. More offices mean more workers, and many of them want to live close to work. 

Ahmedabad land prices rise 2026 

GIFT City office space leasing 

Check These Before You Buy a Flat in GIFT City 

1. Search the project on the Gujarat RERA website. Check the registration number, completion date and approved plans. 

2. Ask the builder for the current price list in writing. 

3. Confirm the carpet area of the flat, not only the built-up area. 

4. Check the builder's past delivery record. Some GIFT City projects have faced long delays. 

GIFT City RERA action on delayed project 

Top real estate hotspots in Ahmedabad 

Dholera smart city investment 

About Nila Spaces 

Nila Spaces Limited is an Ahmedabad-based real estate company. Its shares trade on the NSE under the name NILASPACES and on the BSE under code 542231. Deep Vadodaria is the company's MD and CEO. Nila Spaces also built Capital Square in GIFT City, a co-working space with more than 800 seats. 

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