Nila Spaces Limited is a latest enterprise of Ahmedabad headquartered Sambhaav Group, pursuant to the Scheme of Arrangement for Demerger (the “Scheme”) of Real Estate (RE) Undertaking of Nila Infrastructures Ltd (the “Demerged Company”/NI Ltd) into Nila Spaces Ltd (the “Resultant Company”) under section 230 to 232 and other applicable provisions of the Companies Act, 2013 with Appointed Date of April 1, 2017.
In the process of executing projects for various Government/Semi Government entities, NI Ltd fathomed the size and scale of government’s initiatives - “Housing for All by 2022”, and “Smart cities”. While, the government initiated the supply-side measures, it has simultaneously addressed the demand-side, too; by boosting the affordability with the reduction/subsidy in interest on housing loans, enhancement of ceiling for interest deduction, etc. Further, with implementation of path-breaking regulations - RERA and GST Act; the real estate business started getting the much needed impetus as an industry. The latest accordance of much coveted status of “Infrastructure” to Affordable Housing has since set the right atmosphere. Hence, with such collective positive transformation of critical dynamics of the real-estate industry; it was thought prudent to provide an undisturbed attention to the real-estate business by demerging it into a separate entity. The independent Real Estate Business would ensure a focused strategy and specialization for sustainable growth of the Real Estate Business while it would also support the initiatives taken by the Government to provide affordable housing.
NI Ltd has been scaling new heights since its inception in the year 1990. In its journey of 28+ years, NI Ltd has built for itself an enviable position engaging in turnkey civic urban infrastructure developments besides soaring high in new generation lifestyles in the real estate space.The name Nila is synonymous with excellence. As a Sambhaav Group company and headquartered at Ahmedabad, NI Ltd has evolved over the years from its primary identity of a realty company to one which is now predominantly involved in the Affordable Housing. NI Ltd is a public limited company listed on the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE) and is ISO 9001:2015 accredited.