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BPTP, a leading realty developer, through its subsidiary Countrywide Promoters Pvt Ltd, has acquired a substantial 5.24-acre land parcel near Gurugram's Dwarka Expressway for Rs 87.27 crore. The transaction, revealed through documents accessed by CRE Matrix, includes a stamp duty payment of Rs 6.11 crore.
This strategic acquisition aligns with BPTP's ongoing efforts to expand its presence in Gurugram and Faridabad, with already substantial holdings exceeding 600 acres in the region. The recent purchase follows BPTP's sale of a 10-acre land parcel to Central Park for Rs 100 crore, showcasing dynamic activity in the real estate market.
BPTP's commitment to regional development is further highlighted by the launch of its BPTP District, a plotted development project in Faridabad's prime sectors – 81, 84, 85, and 86. This project features residential plots ranging from 100 to 180 square yards, contributing to BPTP's extensive portfolio of over 30 completed residential projects and numerous commercial ventures in Gurugram and Faridabad.
The newly acquired plot near Dwarka Expressway is situated in Gurugram's Sector 113, an area poised for growth after the operationalisation of the 26.7 km expressway connecting Dwarka in New Delhi to the Kherki Dhaula toll plaza in Gurugram. Experts attribute the attractiveness of this micro-market to the surge in new projects in recent years.
This development is part of a series of notable real estate transactions in the National Capital Region. In September 2023, Aamor Inox purchased farmland and a farmhouse for Rs 87.5 crore, while Laxmi Devi Agarwal acquired a bungalow in Vasant Vihar for Rs 86 crore. In February 2023, Vasudha Rohatgi, wife of former Attorney General Mukul Rohatgi, purchased a bungalow in Golf Links for Rs 160 crore.
The broader real estate landscape reflects a trend of active land acquisitions across the country. According to JLL, real estate developers acquired approximately 3,294 acres of land from January 2022 to October 2023. Notably, 44.4% of these transactions occurred in Tier 2 and 3 cities, totalling 1,461 acres in 17 separate deals. Branded developers, driven by increasing customer demand and purchasing power, have successfully closed numerous land transactions in these emerging urban centres.
The acquisitions underscore the robust growth and dynamic nature of the real estate sector, driven by both established and emerging developers responding to evolving market demands and opportunities.
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