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Homeland Group, in partnership with VRC, has acquired two prime mixed-use land parcels in Mohali for over INR 1,000 crore through a government-led auction. The transaction includes a 5.5-acre site near the Chandigarh border and a 13-acre parcel in Sector 62, positioning the developers for large-scale integrated projects. With a planned development potential of around 5 million sq ft, the projects will combine residential and commercial components. The deal reflects rising investor confidence in Tier-2 markets such as Mohali, driven by improving infrastructure, strategic location within the Chandigarh tri-city region, and growing demand for premium mixed-use developments.
Homeland Group, in collaboration with VRC, has secured two mixed-use land parcels in Mohali for a combined value exceeding INR 1,000 crore through an e-auction conducted by the Greater Mohali Area Development Authority (GMADA), marking one of the region's most significant land transactions in recent years. Advertisement
The acquisition includes a 5.5-acre parcel located near the Chandigarh border, which alone generated around INR 400 crore, and a larger 13-acre site in Sector 62, valued at over INR 600 crore. The land parcels were secured at premium rates, with the smaller site witnessing bids of nearly INR 70 crore per acre, among the highest recorded for mixed-use developments in GMADA auctions.
Both parcels are planned to be developed as integrated mixed-use projects, combining residential apartments with commercial and retail spaces. The proposed developments are expected to have a cumulative built-up area of approximately 5 million sq ft, positioning them among the largest such projects in Mohali.
The developers aim to complete the projects by the first quarter of 2031. The collaboration between Homeland Group and VRC is expected to leverage the former's experience in premium real estate development and the latter's construction capabilities, enabling efficient execution of large-scale projects.
The transaction highlights increasing traction in the Chandigarh tri-city region, where Mohali has been emerging as a preferred destination for both residential and commercial real estate development. Its proximity to Chandigarh, improving infrastructure, and availability of planned land parcels have contributed to rising developer interest.
This deal also reflects a broader trend of developers expanding into Tier-2 cities, where land availability and pricing allow for large integrated developments. As metropolitan markets face saturation and higher entry costs, cities like Mohali are witnessing increased capital inflows.
With record land pricing and significant development potential, the Mohali acquisition is likely to influence future land valuations and reinforce the region's position as an emerging real estate investment destination in North India.
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