Experion Developers Acquires 8-Acre Land in Gurugram for Rs 400 Cr

New Delhi, Jul 5 (PTI) Realty firm Experion Developers has acquired a 7.81-acre land in Gurugram for Rs 400 crore to develop a real estate project.

The company, a fully FDI-funded real estate developer and a wholly-owned subsidiary of Experion Holdings Pte Ltd, Singapore, has acquired the land parcel in Sector 88A, Gurugram.

"The 7.81-acre plot was acquired through an outright purchase for approximately Rs 400 crore," Experion Developers said in a statement.

The project will have a built-up area of about 3 million square feet.

In April, the company had said it would invest about Rs 1,500 crore to develop a luxury housing project 'Experion Elements' in Noida as part of its expansion plans amid a sharp rise in demand for residential properties.

The company is developing around 320 housing units in this 4.7-acre project at Noida in Uttar Pradesh. In the first phase, around 160 units are being launched for sale.

Experion Developers is developing township, housing and commercial projects in Gurugram, Amritsar, Lucknow, and Noida.