Homeland Group, VRC acquire prime Mohali land parcels for major mixed-use developments
Mohali, March 20, 2026:
In a significant move for the Tricity real estate market, Homeland Group, in collaboration with construction company VRC, has emerged as the highest bidder in the recent GMADA e-auction. The partnership secured two prime mixed-use land parcels in Mohali for a combined investment of nearly ₹1,000 crore, setting new benchmarks for land valuation in the region, the company said in a press statement.
The acquisition includes a 5.5-acre site situated on the Chandigarh border, opposite YPS School. This parcel fetched a staggering ₹70 crore per acre—the highest price ever recorded for mixed land-use development in a GMADA auction—generating approximately ₹400 crore for the authority. Additionally, the joint venture successfully bid for a 13-acre parcel in Sector 62, Mohali’s downtown area, at roughly ₹47 crore per acre, totaling over ₹600 crore.
These developments will be executed as a joint collaboration, merging Homeland’s expertise in premium real estate with VRC’s robust construction capabilities. The ambitious master plan envisions a total built-up area of 5 million square feet across both sites, featuring high-end residential apartments integrated with ground and first-floor commercial spaces.
Umang Jindal, CEO of Homeland Group, highlighted the strategic importance of the acquisitions, stating: “Each site offers unique benefits—the YPS location is strategically situated adjacent to Chandigarh and linked to the Leisure Valley belt, while the Sector 62 parcel is positioned in Mohali’s downtown area near Amb Sahib Gurudwara Road, surrounded by well-established commercial hubs.”
The projects aim to build on the legacy of previous successes like Homeland Heights and CP67, which have become benchmarks for luxury in Punjab. With a projected delivery date in the first quarter of 2031, industry experts anticipate these mixed-use hubs will significantly elevate the urban landscape and offer substantial value appreciation for investors in the Tricity area.
