India, March 20 -- Homeland Group has acquired two mixed-use land parcels in Mohali, Punjab, for around Rs.1,000 crore through an e-auction conducted by the Greater Mohali Area Development Authority, with the projects set to be developed in collaboration with construction firm VRC.

With an investment of nearly Rs.1,000 crore in land and a planned built-up area of around 5 million sq. ft. across both developments, the projects are set to be among the largest mixed-use developments in Mohali, following the success of Homeland Global Park. The company aims to deliver them by the first quarter of 2031, it said in a statement.

According to the company, the acquisition includes a 5.5-acre prime parcel at about Rs.70 crore per acre and another...