+
Eldeco acquires Gurgaon land
Real Estate

Eldeco acquires Gurgaon land

Eldeco Group, a real estate company, has acquired 8.5 acres of land in Gurgaon's Sector 80 through an auction conducted by Haryana State Industrial & Infrastructure Development Corporation (HSIIDC). The acquisition, costing Rs 1.65 billion, will be used for a residential development project spanning 850,000 square feet. Eldeco plans to invest an additional Rs 4 billion in the construction, with Chairman and Managing Director Pankaj Bajaj stating construction will commence in the current financial year. The project is expected to yield Rs 10 billion in revenue, with Knight Frank serving as Eldeco's advisor in the transaction.

This acquisition is part of a trend of increased land purchases by developers in prime locations, thanks to Haryana government auctions. The real estate consultancy Knight Frank India's executive director, North, Mudassir Zaidi, predicts a surge in launches in the second half of the financial year as a result. Ashiana Housing was also recently allocated land in Sector 80 by HSIIDC for a residential project. Additionally, Adore Group secured 10.20 acres of land in Sector 77 for a residential project involving an investment of Rs 2 billion.

Eldeco Group has a track record of delivering 175 projects, encompassing about 30 million square feet of real estate development. The Delhi-NCR region is expected to witness many housing unit launches during the upcoming festive season due to several developers acquiring land in the past six months to cater to the growing demand for homes. Notable developers like DLF, Godrej, L&T, TARC, Signature Global, and County Group are among those planning launches in the latter half of the year. Residential launches in the first half of the year surpassed the previous year's numbers, with 10,963 units launched in Delhi-NCR compared to 11,643 units in 2019, according to Cushman & Wakefield.

Eldeco Group, a real estate company, has acquired 8.5 acres of land in Gurgaon's Sector 80 through an auction conducted by Haryana State Industrial & Infrastructure Development Corporation (HSIIDC). The acquisition, costing Rs 1.65 billion, will be used for a residential development project spanning 850,000 square feet. Eldeco plans to invest an additional Rs 4 billion in the construction, with Chairman and Managing Director Pankaj Bajaj stating construction will commence in the current financial year. The project is expected to yield Rs 10 billion in revenue, with Knight Frank serving as Eldeco's advisor in the transaction. This acquisition is part of a trend of increased land purchases by developers in prime locations, thanks to Haryana government auctions. The real estate consultancy Knight Frank India's executive director, North, Mudassir Zaidi, predicts a surge in launches in the second half of the financial year as a result. Ashiana Housing was also recently allocated land in Sector 80 by HSIIDC for a residential project. Additionally, Adore Group secured 10.20 acres of land in Sector 77 for a residential project involving an investment of Rs 2 billion. Eldeco Group has a track record of delivering 175 projects, encompassing about 30 million square feet of real estate development. The Delhi-NCR region is expected to witness many housing unit launches during the upcoming festive season due to several developers acquiring land in the past six months to cater to the growing demand for homes. Notable developers like DLF, Godrej, L&T, TARC, Signature Global, and County Group are among those planning launches in the latter half of the year. Residential launches in the first half of the year surpassed the previous year's numbers, with 10,963 units launched in Delhi-NCR compared to 11,643 units in 2019, according to Cushman & Wakefield.

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?