Hero Realty Buys Land in Mohali for Rs 260 Cr

New Delhi, Sep 19 (PTI) Hero Realty has purchased 8.71 acre land in Mohali for over Rs 260 crore to develop a real estate project.

The company, through its entity Vikas Parks Pvt Ltd, has acquired a prime land parcel spanning 8.71 acre in Sector 99, Mohali, through an auction conducted by Greater Mohali Area Development Authority (GMADA), Hero Realty said in a statement.

Hero Realty has bought this land for Rs 262.75 crore.


Rohit Kishore, CEO of Hero Realty, said, "Mohali has always been a strategically important market for us."

The company is developing a 18.5 acre project in Sector 88, Mohali. It has already delivered 544 units across seven towers in Phase 1 and has also started handing over possessions of Phase 2, which has another 650 units. The third phase has been launched recently.

Hero Realty is currently developing over 5.2 million square feet of residential projects across Delhi-NCR and Punjab.

The company has delivered over 230 acre of industrial parks in Haridwar and has developed 6 million square feet of assets nationwide.