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Gurgaon, a thriving city in Haryana, has become the epicentre of a flurry of real estate activity, with developers eagerly acquiring prime land parcels for residential projects. In a recent high-profile auction conducted by the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC), four coveted land parcels earmarked for residential development in Gurgaon fetched a staggering total revenue of INR 500 crore. The auction witnessed active participation from prominent developers, underscoring the robust demand for residential real estate in the region and highlighting the confidence of developers in Gurgaon's growth potential.
Among the notable transactions, Eldeco secured 2.7 acres for INR 110 crore, while Trehan Iris acquired two land parcels totalling 5.08 acres for INR 190 crore. Conscient clinched a deal for 5.56 acres, signalling significant investments by these developers to capitalise on the lucrative opportunities presented by Gurgaon's dynamic property market.
Both the Haryana Shahari Vikas Pradhikaran (HSVP) and HSIIDC have been instrumental in auctioning prime land in Gurgaon, especially through government channels. Notable companies such as Godrej, Experion, M3M, and Trevoc have successfully acquired land parcels in recent times, while established developers like DLF, TARC, Signature Global, and Anant Raj are gearing up to launch new projects in the city.
Sector 80 emerges as a focal point for future development in Gurgaon, with significant land acquisitions through government auctions. This area stands to become the next growth hub, attracting multiple residential developments.
Aman Trehan, Executive Director of Trehan Iris, revealed plans for expanding their business by winning an auction in Gurugram, focusing on developing plots for a premium residential project. Eldeco Group, having previously acquired 8.5 acres of land in the same sector, announced intentions to develop a luxury group housing project, highlighting the growing allure of Gurgaon's real estate market.
Eldeco Group previously bought 8.5 acres of land for INR 165 crore in the same area. The Managing Director, Pankaj Bajaj, stated that they intend to create a high-end housing project on this land, featuring 3/4 BHK apartments with views of the golf course, ranging from 2200 to 3500 sq ft in size.
In a separate transaction, Conscient Infrastructure secured a 6.6-acre land parcel last year, further adding to the momentum of development in the region. Additionally, HSIIDC allotted 43,708 square meters of land in Sector 80 to Ashiana Housing for a residential project, while Adore Group acquired 10.20 acres of land in Sector 77 for INR 200 crore.
The surge in land acquisitions and upcoming housing unit launches indicate a bullish outlook for the real estate sector in Delhi-NCR. With multiple developers acquiring land in response to rising demand for homes, the region is poised for continued growth and expansion in the upcoming financial year.
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