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County Group Expands Footprint in Gurugram with Rs 105 Crore Land Acquisition

County Group Rs 105 Crore Land Acquisition

County Group, a real estate company based in Delhi-NCR, has recently acquired a 7.9-acre land parcel in Gurugram for a substantial sum of Rs 105 crore. The land was purchased from Brock Developers Private Limited and Ashiana Landcraft Realty Private Limited, according to documents accessed by CRE Matrix. The land parcel is located in Harsaru village, sector 88A, Gurugram, near the Dwarka Expressway.

This strategic investment is expected to strengthen the County Group’s presence in the rapidly growing Gurugram market and provide opportunities for future development projects.

Perfect Megastructure Private Limited, a subsidiary of County Group, has acquired the development rights for this 7.9-acre land parcel in Gurugram. The company signed a development agreement with Brock Developers Private Limited and Ashiana Landcraft Realty Private Limited on July 9, 2024. A stamp duty of Rs 2.27 crore was paid for the registration of the agreement. It is believed that the County Group is planning to construct a luxury housing project on the recently purchased land parcel.

In an announcement earlier this year, County Group stated their intention to invest Rs 5,000 crore over a five-year period in the development of ‘Ivory County’, an ultra-luxury housing project in Noida. Located in Sector 115, near the Faridabad-Noida-Ghaziabad (FNG) Expressway, the project is anticipated to generate approximately Rs 7,500 crore in revenue.

The acquisition of the land parcel in Gurugram marks a significant milestone for County Group. This strategic move aligns with the company’s ambitious growth plans and demonstrates its commitment to delivering high-quality residential projects in the future. 

Recent Land Transactions in Gurugram

Gurugram’s real estate market is booming, driven by economic growth and increasing urbanization. Developers are actively acquiring land parcels to accommodate their projects. Furthermore, we can expect to see even more such large-scale land transactions in the future.

In a recent transaction, Oberoi Realty purchased 14.8 acres of land in Gurugram for Rs 597 Crore.  In another major land deal, Dvok Buildcon has acquired 18 acres of land in Gurugram for Rs. 310 crore.
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Sobha Ltd. Signs Joint Develop Agreement to Develop Residential Project in Gurgaon

Sobha Ltd. Joint Development Agreement

Bengaluru-based Sobha Ltd has signed a joint development agreement for the launch of a new residential project on a 12-acre land in Sector 63A, Gurgaon. This is Sobha’s third project in the area with other developments in Sector 99 and Sector 63.

According to the documents accessed by CRE Matrix, the deal, which was registered on July 12, involved a stamp duty payment of Rs 4.3 crore. Sobha is likely to add about 9 million square feet of residential space in FY25, significantly enhancing its pipeline of projects. This is indicative of the growing interest in Gurgaon’s real estate market, particularly, near Golf Course Extension. This neighborhood boasts luxury living and superior infrastructure.

According to Gaurav Kumar, MD, Capital Markets and Land, CBRE, it is because of the strong demand from end-users that Gurgaon has become a dynamic location with infrastructure development for high-end residential projects. In line, Shalin Raina, MD, Residential Services, Cushman & Wakefield, opined that the fast pace of growth and charm witnessed by the Golf Course Extension was because of top-grade developers and improved infrastructure.

Sobha posted good FY24 results, with sales at Rs 6,644 crore, up 28 percent, and the average price realization at an all-time high at Rs 10,922 per sq ft. It expects to launch 9 mn sq ft in FY25, compared to 7 mn sq ft in the previous year.  Additionally, Shobha is working swiftly to advance the remaining land bank into project stages with a potential of 25-30 million square feet, reflecting its aggressive expansion strategy.

With the realty markets becoming increasingly competitive, strategic joint development lets Sobha enter new markets, This approach positions the company for continued growth in the rapidly changing Gurgaon market. 

Recent Transactions 

Land deals for residential projects are on the rise as developers seek to capitalize on the growing demand for housing in urban areas. In a recent transaction, Chintels India transferred the ownership of two land parcels near Dwarka Expressway to Shobha Group. 

In another transaction, Oberoi Realty acquired a prime 14.81-acre land parcel in Gurugram. worth Rs.597 crore.

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Mumbai-based Oberoi Realty Enters NCR Market with Strategic Land Acquisition in Gurugram

Mumbai-based real estate giant, Oberoi Realty has made a significant investment in the National Capital Region by acquiring a prime 14.81-acre land parcel in Gurugram, Haryana. The buyout worth Rs 597 crore is one of the largest for the company outside its core Mumbai market. CRE Matrix accessed documents confirming this strategic move.

The recently purchased property is located in Gurugram’s Sector 58, a prime area next to the Southern Peripheral Road (SPR). Oberoi Realty’s planned luxury group housing project is well-suited for this neighborhood, recognized for its high-end residential developments. With an estimated 2.6 million square feet of development potential, the area is ideal for a large-scale residential complex.

According to the documents, Oberoi Realty paid a stamp duty of Rs 33.77 crore. Although the land acquisition took place in November 2023, the official sale deed was executed on May 7, 2024. The land was purchased from a consortium that included Delhi NCR-based developer Ireo Residences.

The landmark agreement highlights Oberoi Realty’s determination to widen its reach and shows how Gurugram is increasingly becoming a thriving destination for real estate. Luxury residential developments are ideal for this area due to its proximity to major business centers and well-developed infrastructure. This entry into the NCR market will enable Oberoi Realty to take advantage of these opportunities and provide upscale residential solutions to clients.

Recent Land Transactions in Gurugram

Gurugram’s advantageous location and excellent infrastructure have drawn large investments from prominent real estate developers. Over the past few years, the city has seen a substantial increase in land transactions. In a recent transaction in May 2024, Dvok Buildcon, a Gurugram-based real estate developer purchased an 18-acre plot of land in Gurugram, valued at Rs 310 Cr. 

In another significant deal, Chintels India transferred ownership of two land parcels in Dwarka Expressway valued at Rs 121.82 crore and covering a total area of 7.85 acres to Sobha Ltd in Gurugram.  
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Lenskart’s Peyush Bansal and Dhanuka Family Members Acquire Luxury Apartments in Gurugram’s DLF The Camellias

Camellias_DLF

Prominent industry players including Peyush Bansal, the founder of Lenskart, and the Dhanuka family from Dhanuka Agritech, have made notable acquisitions in DLF’s luxurious residential project The Camellias in Gurugram. According to the documents accessed by CRE Matrix, these sumptuous properties were booked between 2015 and 2022, with conveyance deeds executed in April 2024. The cumulative value of these properties amounts to Rs 106.4 crore. 

The founder of Lenskart, Peyush Bansal purchased a 7,461-sq. ft apartment in August 2022 for Rs 27.02 crore. This apartment comes with four parking slots. On April 29, 2024, the conveyance deed for this deal was completed, and Bansal paid a stamp duty of Rs 1.89 crore.

On June 24, 2019, Ram Gopal Agarwal, the group chairman of Dhanuka Agritech Limited, and his wife Urmila Dhanuka signed a contract with DLF to buy a 7,361-sq. ft apartment at The Camellias. The final payment was made in March 2021, after he paid Rs 22.55 crore for the property. On April 26, 2024, the property’s conveyance deed was signed and a stamp duty of Rs 1.35 crore was paid.

Between June and August 2015, Rahul Dhanuka, Joint Managing Director at Dhanuka Agritech, paid Rs 24.31 crore for a 7,361-square-foot apartment. On April 18, 2024, the conveyance deed was completed and Rs 1.70 crore in stamp duty was paid. There are four parking spaces on this property as well.

Harsh Dhanuka, Executive Director of Alliances & Supply Chain at Dhanuka Agritech, paid Rs 32.52 crore for a 9,419-square-foot apartment with five parking spaces. The conveyance deed for his property was executed on April 23, 2024, and he paid a stamp duty of Rs 2.27 crore.

These properties were purchased directly from the developer of The Camellias. During the time these deals were closed, The Camellias’ prices ranged from Rs 30,634 to Rs 37,000 per square foot. However, These apartments currently go for about ₹75,000 per square foot on the market. The lowest apartment at Camellias is available for ₹11 lahks per month for an unfurnished unit and ₹14 lahks for a furnished one.

Recent Transactions

The high-end transactions indicate Gurugram’s growing appeal among affluent buyers. The sharp increase in property values highlights the demand for luxury homes. In a recent transaction, MakeMyTrip’s Deep Kalra, Den Network’s Sameer Manchanda, and Assago’s Ashish Gurnani bought apartments at Gurgaon’s The Camellias for a cumulative total of Rs 127.58 crore. 

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Dvok Buildcon Acquires 18-acre Land in Gurugram for Rs. 310 Crore

Dvok Buy Land in Gurugram

Dvok Buildcon, a Gurugram-based real estate developer purchased an 18-acre plot of land in Gurugram, valued at Rs 310 Crore as revealed by documents accessed by CRE Matrix. With this strategic investment, the business marks its expansion into one of India’s most lucrative real estate industries. Gurugram is famous for its rapid urbanization and great infrastructure. The region has immense potential for the growth of residential homes as well as commercial projects. 

The newly acquired land is an agricultural plot situated near Manesar, a prime location, enhancing its value and attractiveness for future developments. Dvok paid Rs 21.72 crore as stamp duty, according to the documents. This prime location gives a myriad of developments that Dvok Buildcon can venture into, be it residential or commercial. Real estate in the area is rife and a sure method of obtaining a good return on investment, as the demand for quality living and working space continues to rise.

Despite record-high residential demand, renowned developers, along with other entities, continue to acquire land across India. Besides residential projects, sectors like commercial, retail, industrial, and warehousing are driving prime land deals. In 2022–23, 88 land deals covering 1,886 acres were completed across various cities. This increased to 2,989 acres in 2023–24. The residential segment remains the primary driver of the Indian real estate market. Among the top seven cities, NCR led with 29 deals for 313 acres, followed by MMR with 19 deals for 157 acres, and Bengaluru with 14 deals for 490 acres.

Gurugram’s vibrant lifestyle, contemporary amenities, and seamless connectivity make it a popular choice for families and professionals. By providing luxurious housing solutions that satisfy aspirational aspirations, Dvok Buildcon may take advantage of this demand. Also, there are plenty of chances for commercial development in Gurugram because of its reputation as a major business hub home to various global corporations and commercial complexes. Strategically located modern office spaces would draw in firms and provide strong rental yields and long-term profitability. 

Recent Transactions

In the last few months, significant real estate transactions have been completed in Gurugram. The increased activity indicates investors’ faith in the market’s growth potential and long-term profitability. In a recent transaction, Chintels India transferred ownership of two land parcels in Dwarka Expressway valued at Rs 121.82 crore and covering a total area of 7.85 acres to Sobha Ltd in Gurugram. 

In another transaction, Virat Kohli leased out 12 office spaces in Gurugram for an annual rent of Rs 1.27 crore. 
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