Hero Realty has sold all 77 plots for about Rs 180 crore in its newly launched project in Gurugram. All the plots were sold on June 29, the first day of the launch itself. The selling price starts from Rs 1.99 crore and onwards.
Hero Realty has launched a plotted development project 'The Ark' in Sector 85, Gurugram, spread over 5 acres, a company statement said.
Dharmesh Shah, CEO of Hero Realty Pvt Ltd, said, "We are delighted with foraying into the plotted development in the Delhi-NCR market and are committed to meeting the evolving needs of our customers. With the help of technology and our brand value, the NCR will experience best practices even in the plotted segment." In February, Hero Realty purchased a 5-acre land in Gurugram for Rs 90 crore to develop a plotted residential project.
The total cost to develop this project is estimated at Rs 115 crore. The project will be developed by the end of next year.
The company has formed a separate vertical 'Hero Earth' for undertaking plotted development projects across major cities in North India.
Hero Realty Pvt. Ltd. (HRPL), a Hero Enterprise business, has delivered over 4.23 million square feet of construction area across residential projects. In addition, 2.84 million square feet of space are being built out in the best areas of the Delhi-National Capital Region and Punjab. Haridwar also features 230 acres of industrial parks.
In December 2018, Hero Realty announced its foray into the Delhi-NCR property market with an investment of about Rs 900 crore to develop a premium housing project in Gurugram.
The project, named 'Hero Homes - World of Wellness', is spread over 9 acres at Sector 104 on Dwarka Expressway and comprises around 1,000 apartments.
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