Wednesday, July 24, 2024

Omaxe Group purchases 5 acres of land from RLDA in Ludhiana for Rs 220 crore

Omaxe Group, a prominent real estate developer in the NCR region, has successfully acquired over 5 acres of prime land at Gumar Mandi Fountain Chowk in Ludhiana. This acquisition was secured through a competitive bidding process conducted by the Rail Land Development Authority (RLDA) and was finalized at a bidding amount of Rs 220 crore. It underscores Omaxe Group’s dedication to expanding its presence in strategically connected locations near the national capital.

Situated just a 5-minute drive away from both the railway station and bus stand, this property is adjacent to Gumarmandi and enjoys a central location in Ludhiana. The acquired land will be utilized for a blend of residential and commercial development, providing investors with a diverse range of investment opportunities. This development is expected to enhance and fortify the local real estate market in the area.

Jatin Goel, the Executive Director of Omaxe Group, expressed his excitement regarding the acquisition, stating, “We are delighted with the successful acquisition of RLDA land located in the heart of Ludhiana. Our vision has always been centered around creating exceptional residential and commercial spaces that redefine the urban landscape. This acquisition aligns perfectly with our strategy to bolster our presence in strategic markets and contribute to the growth of Ludhiana’s real estate sector.”

The Rail Land Development Authority (RLDA) is a statutory body established by the Ministry of Railways, entrusted with the task of generating non-fare revenue by developing and monetizing vacant railway land.


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