 "India's real estate sector, significantly buoyed by a robust economy, has emerged as a pivotal player in the country's development. With an 18 per cent share in national employment, real estate is the largest employment generator after agriculture. C")
Delhi NCR-based realty firm ONE Group Developers on Friday announced that it will invest Rs 1,200 crore in residential and commercial projects over the next two years in Mohali, Punjab.
These would include low-rise independent floors and residential plots in Sector 98, catering to the growing demand for independent living. The company has plans for a group housing project and commercial spaces in other areas of the city.
“This corresponds to more than 800 residential units along with a commercial mall,” Udit Jain, managing director, ONE Group Developers, said.
Jain added that the project will have luxury units, with ticket prices expected to start from upwards of Rs 1.25 crore. “It will be an aspirational product for the Indian middle class and upper middle class,” he said.
The company added that while the low-rise and plotted developments are in the planning stages, land acquisition for the group housing and commercial ventures has been completed, paving the way for commencement of planning activities.
The company did not share the estimated revenue expected from the project.
Jain added that Mohali has emerged as a destination for homebuyers and investors due to its infrastructure and quality of life. “With a land bank in sectors, the company is poised to introduce planned developments that blend lifestyle, convenience, and value,” he added.
With this, the company is focusing on architecture and project delivery, further solidifying its presence in the north Indian real estate market.
“The investment in Mohali is a testament to the company’s debt-free model and its long-term vision for creating communities that meet the aspirations of urban living,” the company stated.
The realty group already has established several projects in Mohali including ONE Rise in Sector 99, and ONE City Hub and ONE City Hamlet in Sector 98.
Operating across six north Indian states, ONE Group currently has 18 projects in its kitty, of which 14 are completed and four are under construction. These include 10 residential and eight commercial projects.
