Hero Realty to Raise Rs. 1000 Cr on Residential Project in Mohali
The most reputed real estate developer in the North India, Hero Realty is all set to rope in Rs. 1000 Cr on the development of a residential project. It is reported that the project will be stretched on 18.5 acres in Mohali and the Hero Group has won auction to acquire the land. The auction was organized by the Greater Mohali Area Development Authority (GMADA) and Hero Realty won the bid for Rs. 181 Cr. The company is all set to construct 1250 residential units. The company is operating under Hero Corporate Service Limited.Coming Soon Hero Realty Sector 88 Mohali
According to Yogesh Verma, CEO, Hero Realty, once they launch the site and it gets ready for development, they will plan to deliver the whole complex to public at the total cost of project of around Rs. 1000 Cr. The site is located at Mohali Sector 88. For the developer, it is going to be a major land acquisition. For the developer, Punjab is considered to be the major real estate hub and this type of project can help them strengthen their roots here. The company is all set to introduce the residential housing sector in the mid segment and it is planning to construct over 1250 apartments of various types and sizes.
The company has the staff of over 30000 employees and the revenue of around $5 billion. The company has now been engaged with several stakeholders in long-term partnerships. Hero MotoCorp (BSE 1.24%) is the flagship company of the group and it has been the leader in motorcycle manufacturing over the world for decade. The new businesses of Hero Group are controlled under Hero Corporate Service Ltd. It is the holding conglomerate for several businesses in knowledge processing, training, auto parts, insurance distribution, and infrastructure development. The corporate businesses of the company include HeroBPO (India), Hero Mindmine Institute Limited (HMIL), Hero Realty, NsurePlus and Hero Steels.
The new project from Hero Realty introduces 2 and 3 BHK houses and they have a lot of facilities for the dwellers. The project is located in the vicinity of several major landmarks. It is enjoying seamless connectivity to the city and railway station in Industrial Area Phase 9.