Real estate developer Eldeco Group is aggressively expanding in various cities with new land purchases. The company bought land parcels in Greater Noida, Sonepat, and Ludhiana for around Rs 230 crore, showing its ambitious plans for northern India.
Strategic Partnership with HDFC Capital
These land buys are part of a Rs 475-crore platform Eldeco set up with HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3). This partnership aims to create many residential projects for affordable and mid-segment housing. It shows growing trust in India's real estate market, especially in tier-2 and tier-3 cities where housing demand keeps rising.
Project Pipeline and Investment Plans
Eldeco plans to start projects worth Rs 5,000 crore next year. Pankaj Bajaj, Chairman and Managing Director of Eldeco Housing and Industries Ltd, said the real estate sector has done really well lately, leading to these new land buys. Now, the company will focus on launching projects and strengthening its partnership with HDFC.
Recently, the developer got 8.5 acres in Gurgaon Sector 80 for Rs 165 crore through a Haryana State Industrial & Infrastructure Development Corporation auction. They also acquired a 36,000-square-metre plot in Greater Noida West, where they will build 750,000 sq ft of residential space with an investment of Rs 250 crore.
Expansion in Ludhiana
Ludhiana is a key market for Eldeco's growth. The company is creating premium plotted townships in the city, including projects near Southern Bypass and Ferozepur Road. These developments offer freehold residential plots with modern infrastructure, smart security, and great amenities nearby, like schools, hospitals, and commercial centres.
Market Outlook
Eldeco has around 10 housing projects planned across mid to luxury segments in cities like Panipat, Rudrapur, Noida Extension, Lucknow, and Kanpur. This year, the company plans to invest nearly Rs 1,000 crore. The strategy focuses on strengthening its presence in existing markets rather than exploring new areas, ensuring better execution and market understanding.