The Omaxe Group, a prominent real estate developer in the National Capital Region (NCR), has secured over 5 acres of prime land at Gumar Mandi Fountain Chowk in Ludhiana through a competitive bidding process conducted by the Rail Land Development Authority (RLDA).
The acquisition was finalized at a bidding amount of Rs 220 crore, highlighting Omaxe Group’s commitment to expanding its presence in strategically located areas connected to the national capital.
This land is located just a 5-minute drive from the railway station and bus stand, adjacent to Gumarmandi, and is situated in the heart of Ludhiana. Omaxe Group plans to utilize the acquired land for both residential and commercial development, offering a range of investment options. This development is expected to bolster the local real estate market.
Jatin Goel, Executive Director of Omaxe Group, expressed his excitement about the acquisition, emphasizing the company’s vision to create exceptional living and commercial spaces that transform the cityscape. This acquisition aligns with Omaxe Group’s strategy to strengthen its presence in key markets and contribute to the growth of Ludhiana’s real estate sector.
The Rail Land Development Authority (RLDA) is a statutory authority established by the Ministry of Railways in India to generate non-fare revenue from vacant railway land through its development and monetization.
