Experion Developers has acquired a six-acre land parcel in Gurugram’s Sector 53 valued at about ₹400 crore through an auction held by the Haryana Shahari Vikas Pradhikaran (HSVP), the state urban development authority.
The department had auctioned another two-acre plot in Sector 56 for ₹120 crore to TREVOC ( The Real Estate Venture of Chawlas), who was one of the three promoters in Spaze group.
HSVP and Haryana State Industrial & Infrastructure Development Corporation (HSIIDC) have been auctioning prime land for residential development in Gurugram.
Apart from Experion Developers, Godrej Properties, Eldeco Group and Ashiana Housing have acquired land through government auctions in recent months.
“Haryana government has been proactive in auctioning land, paving the way for newer projects. We are also working very closely on these opportunities,” said Mudassir Zaidi, executive director, North, at real estate consultancy Knight Frank India.
Experion Developers declined to comment.Experion Developers had earlier acquired a four-acre land on Gurugram’s Golf Course Road for ₹400 crore and another five-acre plot in Noida Sector 45 for ₹250 crore. It had also acquired a land parcel in Gurugram’s Sector 48, valued at about ₹550 crore. All three land parcels are for residential development and have been acquired through government auctions.