Parsvnath Developers Ltd, one of the leading real estate developers , are planning to move their operations out of Ahmedabad,sources said.

They sold its top property in Satellite for around Rs 150 crore last month, the company recently sold off another prime land for Rs 30 crore in Vastrapur according to the sources.

Sarthav Infrastructure Pvt Ltd,  known by its Abshree brand, has purchased this land. The company is planning an office-cum-showroom.

The Delhi-based company had earlier planned a luxury mall project on this  in Vastrapur. Sources told the land has been sold for Rs 55,000 per sq yard, which is a good rate in present market.

Sanjeev Jain,MD of Parsvnath Developers Ltd, told he can’t say anything on the sale of the plot. “I cannot comment on any development related to it. The right person is Pradeep Jain, my elder brother who is also the CMD of the company.” However, he was unavailable for comment.

The company bought the land parcel in 2006-07 from Ahmedabad Urban Development Authority (AUDA) which has been provisioned for commercial development.

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