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Four land plots for residential construction in Gurgaon were put up for auction by the Haryana State Industrial & Infrastructure construction Corporation (HSIIDC), who received Rs 500 crore from three developers.
Trehan Iris paid Rs 190 crore for two land parcels totaling 5.08 acres, Eldeco paid Rs 110 crore for 2.7 acres, and Conscient paid Rs 200 crore for 5.56 acres.
The state urban development body, Haryana Shahari Vikas Pradhikaran (HSVP), along with HSIIDC, have been holding auctions of valuable property for residential construction in Gurgaon. Developers are eager to purchase this land, especially through government channels, given the record sales in the residential sector.
Recent Land Acquisitions By Renowned Real Estate Developers In Gurugram
Developers including DLF, TARC, Signature Global, and Anant Raj have planned debuts in Gurgaon, while businesses like Godrej, Experion, M3M, and Trevoc have recently purchased property. Some major land acquisitions in Gurgaon have ensued through government auctions in desirable locations.
All of these property lots were located in Sector 80, which is expected to turn into Gurgaon’s next major development region and would witness a number of residential constructions, according to Mudassir Zaidi, executive director of Knight Frank India’s North division. Trehan Iris and Eldeco have received transaction advice from Knight Frank.
We have been carefully planning our expansion since we are currently growing our company. Accordingly, we bid the highest price at an auction that we just attended in Gurugram. Executive Director of Trehan Iris Aman Trehan stated, “We are currently working on the development plan for the plots, to launch a premium residential project soon.”
Upcoming Luxury Projects To Meet The Growing Housing Demand In Gurugram
In the same sector, Eldeco Group had previously paid Rs 165 crore for 8.5 acres of property.
Pankaj Bajaj, MD of Eldeco Group, stated, “We plan to develop a luxury group housing project on this land with golf facing 3/4 BHK apartments in unit sizes ranging from 2200-3500 sq. ft.”
Conscient Infrastructure paid over Rs 80 crore last year to purchase a 6.6-acre plot of land.
Ashiana Housing has received a land allocation of 43,708 square meters for a residential project in Sector 80, Gurgaon, from HSIIDC. Adore Group has paid Rs 200 crore to acquire 10.20 acres of land in Sector 77 for the development of a residential complex.
In an effort to meet the growing demand for housing, several developers have purchased property in the last six months, and the Delhi-NCR is predicted to see a record number of new housing unit launches in the upcoming fiscal year.
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Source-ET
