Homeland Group Acquires ₹1,000 Crore Land Parcels in Mohali for Mixed-Use Developments
Homeland Group has made a significant acquisition in Mohali, Punjab, securing two mixed-use land parcels through an e-auction conducted by the Greater Mohali Area Development Authority for around ₹1,000 crore. The projects will be developed in collaboration with construction firm VRC.
Key Highlights:
- Homeland Group acquired the land parcels for around ₹1,000 crore through an e-auction.
- The projects are set to be developed in collaboration with construction firm VRC.
- With a planned built-up area of around 5 million sq. ft., the projects will be among the largest mixed-use developments in Mohali.
- The company aims to deliver the projects by the first quarter of 2031.
Acquisition Details:
The acquisition includes a 5.5-acre prime parcel at about ₹70 crore per acre and another 13-acre parcel at nearly ₹47 crore per acre.
Prime Parcel Details:
- Location: Opposite YPS School on the Chandigarh border.
- Price: ₹70 crore per acre.
- Collaboration: Homeland Group and VRC.
13-Acre Parcel Details:
- Location: Sector 62.
- Price: ₹47 crore per acre.
- Collaboration: Homeland Group and VRC.
Project Features:
Both projects will feature premium residential apartments integrated with commercial spaces on the ground and first floors.
CEO's Statement:
"Each site offers unique benefits. The YPS location is strategically situated adjacent to Chandigarh and linked to the Leisure Valley belt, while the Sector 62 parcel is positioned in Mohali’s downtown area near Amb Sahib Gurudwara Road, surrounded by commercial hubs," said Umang Jindal, CEO of Homeland Group.
About Homeland Group:
Homeland Group’s earlier developments include Homeland Regalia, Homeland Heights, and CP67.