Tag: GMADA auction

IndustryLatest Stories

Homeland Group, VRC Buy Mohali Land for ₹1,000 Crore+

Representative image 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…

IndustryLatest Stories

Hero Realty Acquires 8.71 Acres in Mohali for ₹262.75 Crore

Representative image created by AI 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…