BPTP acquires land in Gurugram for ₹ 87 Crore
Real estate developer BPTP paid ₹ 87.27 crore for a 228,000-square-foot piece of land in Gurgaon. BPTP has been collecting land parcels in the area for residential and commercial development. Its large holdings in Gurugram and Faridabad total over 600 acres. In accordance with the records obtained by CRE Matrix, a real estate data analytics company, Countrywide Promoters Pvt. Ltd, a BPTP Group affiliate, has purchased the land and has paid ₹ 6.1 crore in stamp duty for the deal. A 10-acre plot of land was previously purchased by real estate developer Central Park from BPTP for ₹100 crore.
A planned development project called BPTP District was just introduced by BPTP. It consists of residential plots in Faridabad’s main real estate corridors, Sectors 81, 84, 85, and 86, with sizes varying from 100 to 180 square yards.In Gurugram and Faridabad, BPTP has built and delivered numerous commercial developments in addition to over 30 residential projects.Real estate developers in the nation purchased about 3,294 acres of property between January 2022 and October 2023, according to JLL. A significant amount (44.4%) of these property transactions took place in Tier 2 and Tier 3 cities, totaling 1,461 acres bought in 17 different land transactions. According to data, branded developers have concluded a number of land purchases in these cities, largely due to rising customer demand and purchasing power.
Driven by the unparalleled rates of home sales in developing cities, developers are also purchasing land in order to construct pertinent supply chains for the future.
