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In a recent development, Experion Developers, a prominent real estate developer, has successfully acquired a six-acre land parcel in Gurgaon's Sector 53. The acquisition, valued at approximately Rs 400 crore, took place through an auction conducted by the Haryana Shahari Vikas Pradhikaran (HSVP), the state's urban development authority.
This acquisition comes on the heels of another significant auction conducted by HSVP, where a two-acre plot in Sector 56 was sold for Rs 120 crore to TREVOC (The Real Estate Venture of Chawlas), one of the key promoters in the Spaze Group.
Haryana's urban development authorities, HSVP and Haryana State Industrial & Infrastructure Development Corporation (HSIIDC), have actively auctioned prime land parcels for residential development in Gurgaon. This has attracted several leading real estate companies, including Experion Developers, Godrej Properties, Eldeco Group, and Ashiana Housing, in recent months.
Notably, Experion Developers had previously acquired a four-acre land parcel on Gurgaon's Golf Course Road for Rs 400 crore, a five-acre plot in Noida Sector 45 for Rs 250 crore, and another land parcel in Gurgaon's Sector 48, valued at approximately Rs 550 crore. All three land parcels were procured through government auctions.
The Indian arm of Experion Holdings Pte Ltd, Singapore, a real estate investing arm of the $2.5 billion AT Holdings group of companies, expects to generate revenue of around Rs 3,400 crore from these projects.
Experion Developers is renowned for its diverse portfolio, including townships, group-housing projects, commercial landmarks, organized retail destinations, hotels, and resorts. The company operates in various states across India, including Andhra Pradesh, Delhi-National Capital Region (NCR), Goa, Haryana, Maharashtra, Punjab, Tamil Nadu, and Uttar Pradesh.
In a related development, One Group Developers, based in New Delhi, emerged as the successful bidder for a 3486.17 sq m plot in Gurgaon through an e-bidding process conducted by HSVP, with the winning bid amounting to Rs 57.2 crore. Godrej Properties secured the highest bid for two luxury group housing plots in the Golf Course Road micro-market in Gurgaon, spanning 2.76 acres and 5.15 acres. These projects are estimated to have a revenue potential of Rs 3,100 crore. Additionally, the Eldeco Group successfully acquired 8.5 acres of land in Gurgaon's Sector 80 for Rs 165 crore through an auction organized by HSIIDC.
In terms of land acquisitions, Delhi-NCR led the way by attracting $3.8 billion in the fiscal year 2023, acquiring 1,760 acres of land across 67 deals. In parallel, Mumbai recorded 73 deals to acquire 960 acres of land for a similar amount, showcasing the continued vigour of the real estate market in these regions.
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