Hero Realty Acquires 8.71 Acre Land in Mohali for ₹260 Crore Real Estate Project
New Delhi: Hero Realty has purchased 8.71 acre land in Mohali for over ₹260 crore to develop a real estate project. The company, through its entity Vikas Parks Pvt Ltd, has acquired a prime land parcel spanning 8.71 acres in Sector 99, Mohali, through an auction conducted by the Greater Mohali Area Development Authority (GMADA), as announced in a statement by Hero Realty.
This strategic acquisition is part of Hero Realty's broader plans to expand its presence in the strategically important market of Mohali. Rohit Kishore, CEO of Hero Realty, emphasized the significance of this move: 'Mohali has always been a strategically important market for us.'
The company is already developing a 18.5 acre project in Sector 88, Mohali. Phase 1 of this project, which includes 544 units across seven towers, has been successfully delivered. Phase 2, comprising another 650 units, is currently in the process of handing over possessions. Additionally, the third phase has recently been launched, further solidifying Hero Realty's commitment to the region.
Hero Realty is currently developing over 5.2 million square feet of residential projects across Delhi-NCR and Punjab. The company has also delivered over 230 acres of industrial parks in Haridwar and has developed 6 million square feet of assets nationwide. This latest acquisition in Mohali is expected to contribute significantly to the company's growth and expansion plans.
The acquisition of this prime land parcel in Sector 99, Mohali, for ₹262.75 crore reflects Hero Realty's confidence in the region's potential and its commitment to delivering high-quality real estate projects. The company's track record of successful project deliveries and its focus on strategic locations underscores its position as a leading player in the real estate sector.
Hero Realty's investment in Mohali is not only a testament to the region's growing importance but also a strategic move to capitalize on the increasing demand for quality residential and commercial spaces. The company's expertise and experience in developing large-scale projects make it well-positioned to deliver a world-class real estate project in Mohali, which is expected to attract both residential and commercial investors.
In conclusion, the acquisition of the 8.71 acre land in Mohali by Hero Realty is a significant step towards strengthening its presence in the region and contributing to the development of high-quality real estate projects. With a strong focus on quality and customer satisfaction, Hero Realty is poised to continue its growth trajectory and make a lasting impact in the real estate market.
