The Omaxe Group, a realty developer, has obtained a 5-acre land parcel in Ludhiana through a competitive bidding process conducted by the Rail Land Development Authority (RLDA) for INR 220 Crore. This acquired land will serve for both residential and commercial development purposes.
Jatin Goel, the Executive Director of Omaxe Group, stated that this acquisition is in line with their strategy to bolster their presence in key markets and play a role in advancing Ludhiana’s real estate sector.
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Omaxe is currently engaged in two public-private partnership projects in the national capital, Chandni Chowk and Dwarka. The company has applied for the occupancy certificate for its retail project, Omaxe Chowk, in Chandni Chowk, and expects it to become operational by the end of this year.
Furthermore, Omaxe plans to commence construction on the Dwarka project by the end of this year.
With a successful track record of delivering over 132 Million-SqFt of real estate space, the group currently has another 22 Million-SqFt of space under construction.
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