Homeland group acquires two land parcels in Mohali for over Rs 1,000 crore

Homeland Group has acquired two prime mixed land-use parcels in Mohali for over Rs 1,000 crore through the e-auction by Greater Mohali Area Development Authority (GMADA).

The 5.5-acre prime parcel, located opposite YPS School on the Chandigarh border, was acquired by Homeland Group, generating around Rs 400 crore for authority.

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In the second auction, Homeland Group, in collaboration with VRC also acquired another prime 13-acre mixed land-use parcel in Sector 62. This parcel was acquired at about Rs 47 crore per acre, with the total amount exceeding Rs 600 crore, making it among the highest bids for such developments in GMADA’s history.

Both projects will now be developed in joint collaboration between Homeland Group and VRC.

“The projects will feature premium residential apartments thoughtfully integrated with commercial spaces on the ground and first floors,” said Umang Jindal, CEO of Homeland Group.

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The planned built-up area is around 5 million sq. ft. across both developments and the projects are expected to be among the largest mixed land-use developments in Mohali. The target is to deliver the projects by the first quarter of 2031.

Homeland Group’s earlier developments, including Homeland Regalia, Homeland Heights and CP67.