CHD Developers Acquires 10.5 Acres for Rs. 300 Cr in Gurgaon
The renowned real estate firm, CHD Developers has invested Rs. 300 Crore for acquiring 10.5 acres of landscapes in the city of Gurgaon for the development of a residential project. The Delhi-based realtor is already engaged in developing two new projects in Gurgaon and is looking forward to expand its presence across the city. According to COO Ravi Saund, CHD Developers, the company has acquired 10.5 acres from a local landlord in Gurgaon. They have got all the approvals and the land is licensed. The land has been bought for around Rs. 300 crore by the company and they have made payments through bank debt and internal accruals.
The developer is well versed to introduce a group residential project here. They will develop around 600 units in total. The residential project is scheduled to launch soon. The site is well located in the proximity of its new housing project located at Sector 71. This project has 900 units in which they have handed over 600 flats for possession and the rest 300 units would be delivered soon. Along with the expansion plans of the company, CHD Developers is looking forward to buy more lands to add more residential projects in the city.
Currently, the company is engaged in developing a residential project of 600 units on Dwarka Expressway and an integrated township of over 250 acres in Karnal. The developer has planned a commercial complex with saleable area of 2.1 Lakh square feet on Dwarka Expressway and a group housing project of 1800 units on Sohna Road. CHD Developers is BSE listed company which has recorded around Rs. 13.56 Cr of net profit over Rs. 246.33 Cr of revenue during the 9 months of this financial year.
Under the leadership of Chairman, Mr. R.K. Mittal, CHD Developers Ltd was founded in the year 1990. The company was established with a vision to fulfill the ever-growing needs of quality commercial and housing projects in modern India. The company is focusing on capital city Delhi and NCR. The first commercial development was started in 1992 with the diversification in housing projects.