Homeland Group acquires Mohali land parcels for ₹1,000 crore, to develop projects with VRC

Homeland Group has acquired two land parcels in Mohali for around ₹1,000 crore through an e-auction conducted by the Greater Mohali Area Development Authority

Published on: Mar 20, 2026, 10:15:06 IST

By Vandana Ramnani

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Homeland Group has acquired two mixed-use land parcels in Mohali, Punjab, for around ₹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.

Homeland Group has acquired two mixed-use land parcels in Mohali for around ₹1,000 crore through an e-auction conducted by the Greater Mohali Area Development Authority

With an investment of nearly ₹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 ₹70 crore per acre and another 13-acre parcel at nearly ₹47 crore per acre.

“One of the most expensive mixed land-use sites was sold at nearly ₹70 crore per acre, marking the highest bids recorded so far for mixed land-use development in a GMADA auction," the company said in a statement.

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The 5.5-acre prime parcel, located opposite YPS School on the Chandigarh border, was acquired by Homeland Group, in collaboration with VRC, a construction company.

Homeland also acquired a 13-acre mixed-use parcel in collaboration with construction major VRC in Sector 62, at about ₹47 crore per acre, with the total amount exceeding ₹600 crore, making it among the highest bids for such developments in GMADA’s history, it said.

Both projects will now be developed in collaboration between Homeland Group and VRC, bringing together the developer’s experience in premium real estate and VRC’s strong construction expertise. The collaboration has generated significant interest across the real estate market and among prospective buyers, it said.

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Umang Jindal, CEO of Homeland Group, said that the projects will feature premium residential apartments integrated with commercial spaces on the ground and first floors.

“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 commercial hubs,” he said.

Homeland Group’s earlier developments include Homeland Regalia, Homeland Heights and CP67.

ABOUT THE AUTHOR
Vandana Ramnani
Vandana Ramnani leads the real estate vertical at Hindustan Times Digital, bringing over two decades of journalism experience across real estate, education, human resources, and foreign affairs. She specialises in India’s real estate sector, covering residential and commercial markets in Delhi-NCR, Mumbai, and Bengaluru, with in-depth reporting on regulatory developments, urban policy, housing trends, and interviews with industry leaders. Her work has also appeared in the Hindustan Times newspaper and HT Estates. Earlier, Vandana played a key role in establishing the real estate vertical at Moneycontrol (NW18 Group), shaping its editorial direction and market coverage. She has also written extensively on international education for HT Education, tracking global study destinations, policy changes, and student mobility trends, earning the Singapore Education Award 2009 for Best Media Coverage (Print). Her reporting portfolio includes human resources and employment trends for HT ShineJobs and PowerJobs, as well as lifestyle and interior design features for HT Premium Homes. Vandana began her career with the Press Trust of India, gaining strong editorial and reporting expertise. She was also selected for a prestigious fellowship at Fondation Journalistes en Europe in Paris, where she wrote for EuroMag. One of her notable reporting assignments included covering Germany’s capital relocation from Bonn to Berlin. Outside of journalism, Vandana is a passionate traveller, constantly seeking out charming hideaways across India and the lesser-known, offbeat corners of Southeast Asia.Read More

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