India, Sept. 19 -- Hero Realty Group has acquired a land parcel spanning 8.71 acres in Sector 99, Mohali, through a competitive auction conducted by Greater Mohali Area Development Authority (GMADA), the company said in a statement.

It has bought the land parcel through its entity Vikas Parks Pvt. Ltd for Rs.262.75 crore, the company said.

This area, complemented by retail infrastructure, is earmarked for the development of a marquee luxury residential project under the Hero Homes umbrella. The project is well connected to Chandigarh, top institutions in Mohali, and the upcoming expressway network.

HRPL is currently developing over 5.2 million square feet of residential projects across the NCR and Punjab. Additionally, the company has ...