Hero Realty Sells 77 Plots in Gurugram for ₹180 Crore on Launch Day
- Daniel Dani
- Oct 23, 2024
- 3 min read
Hero Realty achieved a significant milestone by selling all 77 plots in its newly launched project, 'The Ark,' for approximately ₹180 crore in a single day. The plots were sold on June 29, the first day of the project launch, with prices starting from ₹1.99 crore. This rapid sale underscores the high demand for premium residential plots in the Gurugram real estate market.
About 'The Ark' – Sector 85, Gurugram
'The Ark' is a plotted development project located in Sector 85, Gurugram, spread over 5 acres. The project marks Hero Realty's foray into the plotted development segment in the Delhi-NCR region. The development is designed to cater to evolving consumer preferences, combining convenience, quality, and modern amenities in a strategic location.
The company acquired the 5-acre plot for ₹90 crore earlier this year, with an estimated total development cost of ₹115 crore. The project is expected to be completed by the end of next year, enhancing the residential landscape in Gurugram's Sector 85.
Hero Earth – A New Vertical for Plotted Developments
To expand its presence in the plotted development segment, Hero Realty has established a new vertical called 'Hero Earth.' This division focuses on plotted residential projects across major cities in North India, including the Delhi-NCR region. The launch of 'The Ark' signals Hero Earth’s commitment to providing high-quality plotted developments that cater to the growing demand for land ownership and customizable housing.
A Track Record of Excellence
Hero Realty, a Hero Enterprise business, has built a strong reputation in the real estate industry, delivering over 4.23 million square feet of construction across various residential projects. The company is also currently developing an additional 2.84 million square feet of residential space in prime locations across the Delhi-NCR and Punjab.
In the industrial segment, Hero Realty manages a 230-acre industrial park in Haridwar, showcasing the company’s diverse portfolio.
Expansion in the Delhi-NCR Market
Hero Realty's entry into the Delhi-NCR real estate market dates back to December 2018, when the company invested ₹900 crore to develop a premium housing project named 'Hero Homes – World of Wellness' in Gurugram. Located in Sector 104 on Dwarka Expressway, the 9-acre development features around 1,000 high-end apartments.
Why 'The Ark' Is a Prime Investment Opportunity
The rapid sale of all plots in 'The Ark' on launch day reflects the project's appeal and the strategic advantages of its location in Gurugram. Sector 85 is a well-connected area, offering easy access to key business hubs, schools, hospitals, and other essential amenities. Additionally, the emphasis on plotted developments provides buyers with the flexibility to customize their future homes according to personal preferences and needs.
Future Outlook
With the launch of 'The Ark' and the establishment of Hero Earth, Hero Realty is set to strengthen its position in the real estate market. The company aims to replicate the success of its Gurugram project across other cities in North India, meeting the increasing demand for quality plotted developments. As the real estate landscape evolves, Hero Realty remains committed to delivering projects that cater to modern lifestyles while upholding its brand promise of quality and trust.
Conclusion
The sale of 77 plots worth ₹180 crore in a single day at 'The Ark' highlights Hero Realty's strong market presence and the growing demand for premium plotted developments in Gurugram. With Hero Earth, the company is well-positioned to expand its footprint in the North Indian real estate market, delivering projects that offer a blend of luxury, convenience, and customization for discerning homebuyers.
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