Hero Realty Secures Premium 8.71-Acre Plot in Mohali for ₹262.75 Crore Luxury Development

Hero Realty has announced that its subsidiary, Vikas Parks Pvt Ltd, successfully acquired an 8.71-acre premium land parcel in Sector 99, Mohali, through a competitive auction conducted by the Greater Mohali Area Development Authority (GMADA). The company revealed that the plot was purchased for ₹262.75 crore and will be developed as a luxury residential project under its Hero Homes brand.

Strategic Land Acquisition Details

The real estate developer confirmed that the acquisition was completed through GMADA's competitive bidding process, with the land specifically earmarked for high-end residential development. This move represents Hero Realty's continued expansion in the premium property markets across India, particularly in the Northern region.

Hero Realty's Existing Portfolio and Mohali Presence

The developer disclosed that it currently operates an ongoing 18.5-acre Hero Homes development in Sector 88, Mohali. The company shared that Phase 1 of this project delivered 544 units across seven towers, while Phase 2, comprising 650 units, is being handed over to buyers. Management indicated that Phase 3 was launched recently as part of their expansion strategy.

Beyond its Mohali operations, Hero Realty reported having a portfolio exceeding 5.2 million square feet in residential projects across Delhi-NCR and Punjab regions. This positions the company among the significant players in North India's luxury housing segment.

Market Analysis and Strategic Implications

Location Advantages

Industry experts noted that Sector 99 offers excellent connectivity to key infrastructure, retail amenities, educational institutions, and upcoming expressways. These factors make the location particularly attractive for high-end homebuyers seeking premium residential options in the Chandigarh Tricity region.

Luxury Segment Focus

Market analysts suggested that this acquisition signals Hero Realty's strategic intent to strengthen its footprint in premium real estate across Northern India. The deal reflects the company's focus on targeting affluent customers seeking upscale residential options in well-connected locations.

Market Confidence Indicator

Real estate consultants observed that the purchase price exceeding ₹260 crore confirms strong land valuations and investor confidence in Mohali's growth potential. This transaction aligns with broader trends in India's premium real estate markets.

Industry sources indicated that this acquisition solidifies Hero Realty's strategy of expanding its presence in fast-growing housing markets while continuing its focus on luxury and quality. The company aims to develop projects equipped to meet evolving customer aspirations in the premium segment.