Hero Group plans next Hero Homes project in Mohali; acquires big group housing site
Hero Realty, the real estate arm of Hero Corporate Service Limited, announced todaya successful bid for a prime Group Housing Site in Mohali at a cost of Rs. 181 Crores,in the auction held by GMADA (The Greater Mohali Area Development Authority).
- (1888PressRelease) June 11, 2015 - Mohali - Commenting on the successful round of bidding, Yogesh Verma, CEO Hero Realty Pvt. Ltd. Said "Once the site is launched and is ready for construction, we plan to complete and deliver the entire complex to people at a total project cost outlay of about Rs. 1000 crore. This has been a great acquisition for us and we're committed to set a high benchmark in keeping with our vision of Hero Homes. "
The land parcel of 18.5 acres is located in sector 88 of Mohali, a prime location adjoining the planned Mohali City Center in sector 89, and is also adjoining a very prestigious project of GMADA - Purab apartments, where 3000 homes have already been sold out and the project isunder construction. The neighbourhood has multiple projects by leading developers in various stages of development.
"We are targeting the mid-segment residential housing sector, and we plan to construct in excess of 1250 apartments of different sizes and types. Punjab remains a very important centre for us and a project like this in Mohali further strengthens our roots there. " added Mr. Verma.
Mohali is an upcoming destination that is attracting more and more investors and many projects are already underway.
For more information, log on to the official website - www.herohomes.in
ABOUT HERO GROUP
The Hero Group has run successful businesses for more than 50 years. With revenues of over US$ 5 billion and 30,000 plus employees, the Hero Group has a track record of long term partnerships with multiple stakeholders. The group's flagship company, Hero Motocorp has been global leader the in the motorcycle business for a decade. The Group's reputation has been built around the pillars of customer delight, project management and operational excellence. The group's new businesses are managed by Hero Corporate Service Limited, which is the holding company for diverse businesses in the areas of training, knowledge processing, insurance distribution, auto components and infrastructure development. The businesses include Hero Mindmine Institute Limited (HMIL), HeroBPO (India), NsurePlus, , Hero Realty and Hero Steels.
For media enquiries, contact:
Gaurav Sachdeva, M: 9915595737
Deepti Khera, Accord PR, M:+91 9810991819
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