Experion developer acquired 7.81 acres of land parcel at Dwarka expressway, Gurugram at a value of Rs. 400 crore. The wholly-owned Indian subsidiary of Singapore’s Experion Holding Private Limited finalized the deal for a well-positioned land.
In the last one and a half years, it is the fifth major land deal by Experion group in the millennium city. At this land parcel, the developer aims to invest an additional cost of Rs. 2,000 crore to develop 3 million sqft of luxury homes. It is part of Experion’s multiple project launch in Gurugram.
BK Malagi, COO at Experion Developer said, “The land is in Sector 88A Gurugram and we are expected to launch the project in this financial year. We are expecting Rs. 3,700 crore revenue from the project.”
The company is a maiden 100% FDI investor in the Indian real estate market and has quiet high-value acquisitions on its side. Its latest land deal includes a 4-acre plot on Golf Course in Gurugram worth Rs. 400 crore. Another 5.5-acre land parcel of Experion group in Gurugram Sector 48 is worth Rs.550 crore. Its 6-acre land in Gurugram Sector 53 is priced at Rs. 450 core. Similarly, the commercial plot acquired by the developer at Golf Course extension road, Gurugram in the insolvency process is of Rs. 450 crore. Experion group’s 5-acre land in Noida Sector 45 is valued at Rs. 250 crore. This luxury residential project offers 3BHK and 4BHK apartments from Rs. 4.97 crore.
