Experion Developers, the Indian branch of Singapore’s Experion Holdings, has acquired a 5.5-acre land parcel in Sector-48, Gurugram, through a government auction at an approximate value of INR 550 crore.
The auction of this land, conducted by the Haryana Shahari Vikas Pradhikaran (HSVP), will be utilized by the company for the development of a luxury residential project. This acquisition marks the fourth recent addition to the developer’s portfolio, strategically leveraging the positive trends within the Indian real estate market.
Prior to this, the company had procured a four-acre land on Golf Course Road, Gurugram, for a sum of INR 400 crore. Another acquisition of a five-acre plot in Noida Sector 45, valued at INR 250 crore, was also achieved through auction. The company is slated to invest around INR 700 crore for the Golf Course Road project, aiming to develop an expansive 800,000 SqFt. Similarly, an investment of around INR 700 crore will be directed towards the Noida project, encompassing the development of approximately One Million-SqFt.
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