NEW DELHI: Homeland Group, in partnership with construction firm VRC, has acquired two mixed land-use parcels in Mohali through a Greater Mohali Area Development Authority (GMADA) e-auction, with a combined outlay of over ₹1,000 crore.
The larger of the two transactions includes a 5.5-acre parcel near the Chandigarh border, which was acquired at around ₹70 crore per acre,. The deal generated approximately ₹400 crore for GMADA.
In a separate transaction, the developers also secured a 13-acre parcel in sector 62, Mohali, at about ₹47 crore per acre, with the total bid value exceeding ₹600 crore.
Both parcels are planned to be developed as mixed-use projects comprising residential and commercial components, with a total proposed built-up area of around five million sq ft. The developments are expected to be completed by the first quarter of 2031.
