Real estate boom at Gurgaon
Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) has auctioned four land parcels for residential development in Gurgaon, fetching Rs 500 crore from three developers.
Eldeco purchased 2.7 acres for Rs 110 crore, Trehan Iris acquired two land parcels totaling 5.08 acres for Rs 190 crore, and Conscient secured 5.56 acres for Rs 200 crore.
Haryana Shahari Vikas Pradhikaran (HSVP), the state urban development authority, and HSIIDC have been auctioning prime land for residential development in Gurgaon, with developers lining up for acquisitions, particularly through government bodies, amid record sales in the residential sector.
In the recent past, companies such as Godrej, Experion, M3M, and Trevoc have acquired land, while developers like DLF, TARC, Signature Global, and Anant Raj have lined up launches in Gurgaon.
Gurgaon has seen some major land acquisitions through government auctions in prime locations. All these land parcels were in Sector 80, which is coming as the next growth area for Gurgaon and will see multiple residential developments,” said Mudassir Zaidi, executive director, North, at real estate consultancy Knight Frank India.
Knight Frank had advised Eldeco and Trehan Iris about the transaction
HSIIDC has recently allotted 43,708 square meters of land for a residential project to Ashiana Housing in Sector 80, Gurgaon.
Recently, Adore Group also acquired 10.20 acres of land in Sector 77 to develop a residential project with an investment of Rs 200 crore.
Delhi-NCR is expected to see a record number of housing unit launches in the next financial year as multiple developers have acquired land in the past six months, seeking to cater to rising demand for homes.
