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Hero Realty, through Vikas Parks Pvt. Ltd., has acquired 8.71 acres of land in Sector 99, Mohali, for INR 262.75 crore via a GMADA auction. The land will be developed into a new residential project, expanding the company's footprint in the Tricity market. Hero Realty already operates Hero Homes in Sector 88, where Phase 1 with 544 units is complete and handed over, Phase 2 with 650 units is under possession, and the final phase was launched last week across the 18.5-acre township. The Sector 99 acquisition underscores the developer's strategy to strengthen its residential presence in the high-demand Mohali market.
Hero Realty, through its group entity Vikas Parks Pvt. Ltd., has purchased 8.71 acres of land in Sector 99, Mohali, for INR 262.75 crore. The acquisition was made in a Greater Mohali Area Development Authority (GMADA) auction. The company has confirmed that the land will be used for a new residential project. Advertisement
The developer already has a significant presence in the city through its Hero Homes project in Sector 88. Phase 1 of Hero Homes, covering seven towers with 544 units, has been completed and handed over. Possession for Phase 2, which includes 650 units, has also started. The third and final phase of this project, spread across the larger 18.5-acre development, was launched last week.
The new project in Sector 99 is seen as a continuation of Hero Realty's plan to strengthen its presence in the Tricity market, where demand for residential housing remains steady.
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