Hero Realty Acquires 8.71 Acre Land in Mohali for Over ₹260 Crore to Develop Real Estate Project
Hero Realty has purchased 8.71 acres of land in Mohali for over ₹260 crore to develop a new real estate project. The acquisition was made through an auction conducted by the Greater Mohali Area Development Authority (GMADA).
Real EstateMohaliHero RealtyLand AcquisitionGmadaReal Estate MumbaiSep 19, 2025
Rohit Kishore, CEO of Hero Realty, expressed his enthusiasm about the acquisition, stating, 'Mohali has always been a strategically important market for us. The city's rapid growth and development have made it an attractive destination for both residential and commercial projects.' This acquisition is in line with Hero Realty's ongoing efforts to capitalize on the growing demand for high-quality real estate in the region.
The company is already well-established in Mohali, having developed a 18.5-acre project in Sector 88. This project includes the delivery of 544 units across seven towers in Phase 1 and is currently handing over possessions of Phase 2, which comprises another 650 units. The third phase of the project was recently launched, further solidifying Hero Realty's presence in the area.
Hero Realty's portfolio is not limited to Mohali. The company is currently developing over 5.2 million square feet of residential projects across Delhi-NCR and Punjab. Additionally, Hero Realty has delivered over 230 acres of industrial parks in Haridwar and has developed 6 million square feet of assets nationwide. These projects highlight the company's diverse capabilities and its commitment to delivering high-quality, sustainable real estate solutions.
The acquisition of the 8.71-acre land in Mohali is expected to further strengthen Hero Realty's market position and contribute to the company's long-term growth strategy. With a strong track record of successful projects and a clear focus on quality and innovation, Hero Realty is well-positioned to continue its growth trajectory and meet the evolving needs of its customers.
In a statement, Hero Realty emphasized its dedication to delivering value to its stakeholders and contributing to the development of the regions in which it operates. The company's commitment to sustainability and community development is evident in its various initiatives and projects, making it a trusted and respected name in the real estate industry.
As the real estate market continues to evolve, Hero Realty's strategic investments and developments in key locations like Mohali will be crucial in meeting the growing demand for modern and sustainable living spaces. With this latest acquisition, the company is poised to continue its journey of success and excellence in the real estate sector.
Hero Realty is a subsidiary of Hero Group, a diversified conglomerate with a strong presence in various industries, including automotive, infrastructure, and real estate. The company's focus on innovation, quality, and customer satisfaction has earned it a reputation as a leading player in the Indian real estate market.
Frequently Asked Questions
What is the significance of Hero Realty's land acquisition in Mohali?
The acquisition of 8.71 acres of land in Mohali for over ₹260 crore is significant as it underscores Hero Realty's commitment to expanding its footprint in the rapidly growing real estate market of Mohali. This strategic move will enable the company to develop new residential and commercial projects, meeting the growing demand for high-quality living spaces.
What projects has Hero Realty already completed in Mohali?
Hero Realty has already delivered 544 units across seven towers in Phase 1 of its 18.5-acre project in Sector 88, Mohali. The company is currently handing over possessions of Phase 2, which includes another 650 units, and has recently launched the third phase of the project.
What is Hero Realty's current portfolio?
Hero Realty is currently developing over 5.2 million square feet of residential projects across Delhi-NCR and Punjab. Additionally, the company has delivered over 230 acres of industrial parks in Haridwar and has developed 6 million square feet of assets nationwide.
What is the role of the Greater Mohali Area Development Authority (GMADA) in this acquisition?
The Greater Mohali Area Development Authority (GMADA) conducted the auction through which Hero Realty acquired the 8.71-acre land in Sector 99, Mohali. GMADA is responsible for the development and regulation of the Mohali area, ensuring that land is used efficiently and sustainably.
What is Hero Realty's approach to sustainability and community development?
Hero Realty is committed to sustainability and community development. The company's focus on innovation, quality, and customer satisfaction is reflected in its various initiatives and projects. Hero Realty aims to deliver value to its stakeholders while contributing to the development of the regions in which it operates.
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