+
Eldeco and Purvanchal Purchase Land from Yamuna Authority for Rs 2.5 bn
Real Estate

Eldeco and Purvanchal Purchase Land from Yamuna Authority for Rs 2.5 bn

Eldeco Infrastructure and Properties announced the acquisition of a 20,000 sq m land parcel near the upcoming Jewar airport in Noida. The land was purchased through an auction by the Yamuna Expressway Industrial Development Authority (YEIDA) for Rs 960.86 million.

Similarly, Purvanchal Projects, another Noida-based developer, disclosed the acquisition of a 40,000 sq metre land for Rs 1.49 billion.

Both land parcels are designated for group housing projects, with plans for constructing high rises on the acquired properties.

Eldeco revealed recent acquisitions including 2.7 acre in Gurgaon Sector 80 for Rs 1.10 billion and 8.5 acre for Rs 1.65 billion, obtained through an auction by the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC). Additionally, they secured a 36,000-square-metre plot in Greater Noida West, where they will develop 750,000 sq ft of residential space with an investment of Rs 2.50 billion.

Further expansions include the acquisition of 14.5-acre and 18-acre land parcels in Sonepat, earmarked for plotted and villa development. Funding for these initiatives includes Rs 3.50 billion from HDFC Capital Advisors Limited, marking the third round of funding in as many years and increasing the platform?s corpus to Rs 8.50 billion. Eldeco anticipates generating Rs 80 billion from 17 projects.

Previously, in August 2021, the platform had raised Rs 1.50 billion followed by another Rs 3.50 billion in September 2022, focusing on projects in holiday destinations and tier 2 cities.

Eldeco has strategic projects planned in Delhi, Gurugram, Ludhiana, Sonipat, and Goa, with Rs 5 billion allocated to residential projects in Panipat, Sonipat, Ludhiana, Rudrapur, Rishikesh, Kasauli, Greater Noida (West), and Gurugram.

Eldeco Infrastructure and Properties announced the acquisition of a 20,000 sq m land parcel near the upcoming Jewar airport in Noida. The land was purchased through an auction by the Yamuna Expressway Industrial Development Authority (YEIDA) for Rs 960.86 million. Similarly, Purvanchal Projects, another Noida-based developer, disclosed the acquisition of a 40,000 sq metre land for Rs 1.49 billion. Both land parcels are designated for group housing projects, with plans for constructing high rises on the acquired properties. Eldeco revealed recent acquisitions including 2.7 acre in Gurgaon Sector 80 for Rs 1.10 billion and 8.5 acre for Rs 1.65 billion, obtained through an auction by the Haryana State Industrial & Infrastructure Development Corporation (HSIIDC). Additionally, they secured a 36,000-square-metre plot in Greater Noida West, where they will develop 750,000 sq ft of residential space with an investment of Rs 2.50 billion. Further expansions include the acquisition of 14.5-acre and 18-acre land parcels in Sonepat, earmarked for plotted and villa development. Funding for these initiatives includes Rs 3.50 billion from HDFC Capital Advisors Limited, marking the third round of funding in as many years and increasing the platform?s corpus to Rs 8.50 billion. Eldeco anticipates generating Rs 80 billion from 17 projects. Previously, in August 2021, the platform had raised Rs 1.50 billion followed by another Rs 3.50 billion in September 2022, focusing on projects in holiday destinations and tier 2 cities. Eldeco has strategic projects planned in Delhi, Gurugram, Ludhiana, Sonipat, and Goa, with Rs 5 billion allocated to residential projects in Panipat, Sonipat, Ludhiana, Rudrapur, Rishikesh, Kasauli, Greater Noida (West), and Gurugram.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code