NEW DELHI: Homeland Group, in collaboration with construction firm VRC, has procured two mixed-use land parcels in Mohali via a Greater Mohali Area Development Authority (GMADA) e-auction, with a total investment exceeding ₹1,000 crore.
The larger acquisition involves a 5.5-acre lot near the Chandigarh border, purchased at approximately ₹70 crore per acre, contributing around ₹400 crore to GMADA’s revenue.
In another separate acquisition, the developers secured a 13-acre parcel in Sector 62, Mohali, at about ₹47 crore per acre, resulting in a total bid value of over ₹600 crore.
Both parcels are slated for development as mixed-use projects featuring residential and commercial elements, with an estimated combined built-up area of around five million sq ft. Completion of these developments is anticipated by the first quarter of 2031.
