Eldeco & Purvanchal Bag ₹250 Crore Land Deal Near Jewar Airport

Eldeco Infrastructure and Properties has recently acquired a prime 20,000 sq. m. land parcel near the upcoming Jewar airport in Noida for ₹96.86 crore. In a strategic move, Purvanchal Projects, a Noida-based developer, has purchased an adjacent 40,000 sq. m. plot for ₹149.47 crore. Both properties were secured through an auction by the Yamuna Expressway Industrial Development Authority (YEIDA), signaling a significant investment in the region's real estate sector.

The newly acquired land will be developed into high-rise residential buildings, aligning with the growing demand for upscale housing in Noida. Eldeco, already active in expanding its portfolio, had recently acquired multiple properties in Gurugram and Greater Noida West, with notable investments including ₹110 crore for 2.7 acres and ₹250 crore for a 36,000 sq. m. plot.

Eldeco's robust growth strategy is backed by a recent ₹350 crore funding boost from HDFC Capital Advisors. This funding brings their total corpus to ₹850 crore, aimed at generating ₹8,000 crore from 17 upcoming projects. Their expansive development plans also cover Delhi, Gurugram, Ludhiana, and Goa.

With 200 projects completed and around 30 million sq. ft. of real estate developed, Eldeco continues to solidify its position in the industry.

News by Rahul Yelligetti