Recently, real estate firm County Group bought 28-acre land in Nodia, which belonged to the real estate Ambience group. Indiabulls Housing Finance sold this land to reclaim its loan from the Ambience Group.
New Delhi: Real estate company County Group has purchased the 28-acre land parcel in Noida for approx. Rs 450 crore. The county group bought this land to develop a luxury residential project to expand the project.
Due to the increasing demand for houses, several real estate builders have started acquiring land through joint development agreements (JDAs) and outright deals.
County Group Bought 28-acre land in Noida
As per the reports, the County Group bought the 28-acre land parcels in Noida to develop a residential project. This land parcel belonged to Indiabulls Housing Finance.
Director of County Group, Amit Modi, confirmed the land deal and said in his statement that the registration process and documents work had been completed.
We will clear all the dues and paper works to the Noida authority against the land. Also, take all required clearances and permissions to start the project on this land.
Amit Modi also said our company would develop a luxury project on this land parcel.
In the year 2019, ABA Corp formed the company County Group. And the first housing project was launched in Greater Noida (U.P) with an investment of about Rs 300 crore.
This year, Delhi-NCR real estate market has witnessed numerous land deals. Due to the increasing demand for housing, builders are trying to expand their presence in the market to increase revenue.
Elan Group bought 40 acres of land in Gurugram
Also this year, real estate firm Elan Group bought 40 acres of land in Gurugram from IBREL (Indiabulls Real Estate Ltd) for Rs 580 crore. Elan group purchased this land to develop commercial and residential projects on the Dwarka Expressway. This Group also buys 7.65 acres of land from the Ambience group at Rs 200 crore.
In the last month, Godrej Properties won two adjacent land parcels totalling 12.4 acres in Noida for a total bid value of Rs 377 crore.
M3M Group bought a 13-acre land parcel in Noida
Also, in November, M3M Group bought a 13-acre land parcel in Noida for Rs 827.41 crore through e-auction. The total cost of land acquisition would reach Rs 1,200 crore, including registration charges and lease rent.
Max Group Part, Max Ventures & Industries Ltd (MaxVIL), won a tender to acquire about 4 acres of land parcels in Noida for Rs 220 crore to develop a commercial project in august.
In September, MaxVIL acquired Acreage Builders at an enterprise value of Rs 322.50 crore. MaxVIL contracted Acreage Builders To expand its real estate business around Delhi-NCR. Also, Acreage Builders owns 7.15 acres of land at Golf Course Road in Gurgaon.