Homeland Group has acquired two mixed-use land parcels in Mohali, Punjab, for around ₹1,000 crore through an e-auction conducted by the Greater Mohali Area Development Authority, with the projects set to be developed in collaboration with construction firm VRC.
With an investment of nearly ₹1,000 crore in land and a planned built-up area of around 5 million sq. ft. across both developments, the projects are set to be among the largest mixed-use developments in Mohali, following the success of Homeland Global Park. The company aims to deliver them by the first quarter of 2031, it said in a statement.
According to the company, the acquisition includes a 5.5-acre prime parcel at about ₹70 crore per acre and another 13-acre parcel at nearly ₹47 crore per acre.
“One of the most expensive mixed land-use sites was sold at nearly ₹70 crore per acre, marking the highest bids recorded so far for mixed land-use development in a GMADA auction,” the company said in a statement.
The 5.5-acre prime parcel, located opposite YPS School on the Chandigarh border, was acquired by Homeland Group, in collaboration with VRC, a construction company.
Homeland also acquired a 13-acre mixed-use parcel in collaboration with construction major VRC in Sector 62, at about ₹47 crore per acre, with the total amount exceeding ₹600 crore, making it among the highest bids for such developments in GMADA’s history, it said.
Both projects will now be developed in collaboration between Homeland Group and VRC, bringing together the developer’s experience in premium real estate and VRC’s strong construction expertise. The collaboration has generated significant interest across the real estate market and among prospective buyers, it said.
Umang Jindal, CEO of Homeland Group, said that the projects will feature premium residential apartments integrated with commercial spaces on the ground and first floors.
“Each site offers unique benefits. The YPS location is strategically situated adjacent to Chandigarh and linked to the Leisure Valley belt, while the Sector 62 parcel is positioned in Mohali’s downtown area near Amb Sahib Gurudwara Road, surrounded by commercial hubs,” he said.
Homeland Group’s earlier developments include Homeland Regalia, Homeland Heights and CP67.
