Hero Realty, through its subsidiary Vikas Parks Pvt. Ltd., has acquired a prime 8.71-acre land parcel in Sector 99, Mohali, through an auction held by the Greater Mohali Area Development Authority (GMADA) for ₹262.75 crore, according to sources familiar with the matter. The company plans to develop a residential project.
“Mohali has always been a strategically important market for us. We continue to explore new collaborations to further enhance our presence in northern Indian cities,” stated Rohit Kishore, CEO of Hero Realty.
Hero Realty has already established a footprint in Mohali with its Hero Homes project in Sector 88. The company has sold units across three phases, having delivered 544 units across seven towers in Phase 1 and recently begun possession handovers for Phase 2, which includes another 650 units.
Phase 3, which was launched just last week, is the final phase of this landmark 18.5-acre development. The new project in Sector 99 will build upon this success, further solidifying the brand’s position in the Tricity market.
Beyond Mohali, Hero Realty is expanding its presence across North India. In Ludhiana, new phases are being added to its existing portfolio. In the NCR region, the firm launched The Palatial on the Dwarka Expressway last quarter, following successful projects in Gurugram and Sonipat.
HRPL is currently developing over 5.2 million square feet of residential projects across NCR and Punjab. Additionally, the company has delivered more than 230 acres of industrial parks in Haridwar and developed 6 million square feet of assets nationwide.
