Hero Realty has expanded its presence in Punjab’s real estate market with the acquisition of a prime 8.71-acre land parcel in Mohali. The purchase, valued at ₹262.75 crore, was made through its subsidiary Vikas Parks Pvt Ltd in an auction conducted by the Greater Mohali Area Development Authority (GMADA).
The newly acquired land is located in Sector 99, Mohali, a rapidly developing corridor that has been attracting strong residential and commercial interest. The acquisition reflects Hero Realty’s continued focus on Punjab as a key growth market alongside its developments in Delhi-NCR.
Mohali is already central to the company’s operations. Hero Realty is currently developing an 18.5-acre residential project in Sector 88, where it has delivered 544 units across seven towers under the first phase. Possessions have also begun in Phase 2, which includes 650 units, while the third phase of the project has been launched recently.
With the new land addition, Hero Realty further strengthens its project pipeline. The company is actively developing over 5.2 million square feet of residential space across Delhi-NCR and Punjab. Its portfolio also spans industrial and commercial assets. In Haridwar, Hero Realty has delivered more than 230 acres of industrial parks, while its nationwide developments collectively account for nearly 6 million square feet.
The company has been positioning itself as a long-term player in the northern Indian property market, with an emphasis on large-scale, mixed-use and residential townships that cater to end-user demand.
The Mohali region has emerged as a preferred residential hub over the last decade, owing to improved connectivity, proximity to Chandigarh, and a strong base of educational and healthcare institutions. Sector 99, in particular, is witnessing rising interest from developers and homebuyers due to planned infrastructure and availability of large land parcels.
Industry analysts view Hero Realty’s latest acquisition as a sign of developer confidence in Punjab’s real estate market, which has shown resilience amid fluctuating demand in other regions. The move also comes at a time when organised developers are expanding footprints in Tier-II cities, backed by institutional capital and growing housing demand.
.png)