Experion Developers has bought a land lot in Sector 48 in Gurgaon through a government auction worth around Rs 550 crore. The 5.5-acre plot of land is auctioned by HSVP. This is the company’s fourth acquisition in the last several months.
The land parcel will be used to build a luxury residential project in sector 48, Gurugram. This land acquisition is a key milestone for Experion Developers and demonstrates its commitment to India’s real estate sector and growth story.
The company previously purchased a 4-acre land on Golf Course Road, Gurgaon for Rs 400 crore and a 5-acre site in Noida Sector 45 for Rs 250 crore. Both plots of land are for residential construction and were purchased through government auctions.
Experion Holdings Pte Ltd, is a real estate investing arm of the AT Holdings group of enterprises, would spend Rs 700 crore in the Golf Course Road project to develop around 8 lac square feet and Rs 700 crore in Noida to develop approximately one million square feet. Both projects are expected to generate approximately Rs 3,400 crore in income.
Experion builds townships, group housing projects, commercial landmarks, organised retail destinations, hotels, and resorts in Andhra Pradesh, Delhi NCR, Goa, Haryana, Maharashtra, Punjab, Tamil Nadu, and Uttar Pradesh.
The Delhi-NCR region receives 3.8 billion to acquire 1760 acres of land in 67 transactions, while Mumbai observes 73 transactions to acquire 960 acres for the same amount.
Bangalore and Hyderabad were also notable cities, accounting for 9% and 7% of total land acquisition investments, respectively.
Experion Capital, Singapore-based AT Capital’s non-banking financial business focused on real estate and infrastructure, has made its debut in India by providing Rs 200 crore in project finance for Vatika Group’s luxury residential project in Gurgaon.
Source-ET
