CHD Developers buys 10.5 acres of land in Gurgaon for Rs 300 crore
In Gurgaon, Realty firm CHD Developers has bought 10.5 acres of land for about Rs 300 crore to develop a housing project.
Already two projects are being developed in Gurgaon by the national capital-based developer and are looking to expand presence in the city.
CHD Developers COO Ravi Saund told PTI, from a local landlord they have bought 10.54 acres of land in Gurgaon which is licensed and has all approvals in place.
He added that the land has been bought for Rs 300 crore through internal accruals and bank debt.
Sauna said, “We will develop a group housing project on this land. The total units would be about 600. We plan to launch this project next month.”
The land parcel is located at Sector 71, Sohna road, Gurgaon; close to it’s another residential project.
Saund said, we have recently handed over the possession of 600 flats on time and the delivery of the rest 300 would be given by June, out of 900 units in this project.
CHD is looking for land to add more projects in Gurgaon, as part of the company’s expansion plans.
The company is presently developing a housing project on Dwarka Expressway comprising 600 units and a 250 acres integrated township at Karnal.
Two projects are in queue, one is a commercial complex with 2.1 lakh sq ft of saleable area on Dwarka Expressway and the second one is group housing with 1,800 apartments on Sohna Road.
During the first nine months of this fiscal, CHD Developers, which is listed on BSE, had posted a net profit of Rs 13.56 crore over revenue of Rs 246.33 crore.
Source: The Economic Times
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