Experion Developers, a realty firm, has purchased a 7.81-acre land in Gurugram for Rs 400 crore to develop a real estate project. The company, which is a fully FDI-funded real estate developer and a wholly-owned subsidiary of Experion Holdings Pte Ltd, Singapore, has acquired the land parcel in Sector 88A, Gurugram. According to a statement from Experion Developers, the 7.81-acre plot was acquired through an outright purchase for approximately Rs 400 crore.
The project will have a built-up area of about 3 million square feet. In April, the company announced that it would invest about Rs 1,500 crore to develop a luxury housing project called ‘Experion Elements’ in Noida as part of its expansion plans due to a sharp rise in demand for residential properties.
The company is developing around 320 housing units in this 4.7-acre project in Noida, Uttar Pradesh. In the first phase, around 160 units are being launched for sale. Experion Developers is engaged in developing township, housing, and commercial projects in Gurugram, Amritsar, Lucknow, and Noida.