The Omaxe Group, one of the leading real estate developers of NCR, has secured more than 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 finalised at a bidding amount of Rs 220 crore, acknowledging the Omaxe Group’s commitment to expanding its footprint in strategic locations connected to the national capital.
Located at a mere distance of 5 minutes’ drive from the railway station and bus stand, the property is adjoining Gumarmandi and is in the heart of Ludhiana. The acquired land would be utilised for
both residential and commercial development, offering the investors a varied choice for investment. This development would lead to the strengthening of the area’s real estate market.
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Expressing his enthusiasm about the acquisition, Jatin Goel, Executive Director, Omaxe Group, said, “We are thrilled about this successful acquisition of RLDA land in the heart of Ludhiana. We have always been driven by the vision of creating exceptional living and commercial spaces that redefine the cityscape. This acquisition aligns perfectly with our strategy to strengthen our 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 to generate non-fare revenue from vacant railway land through its development and monetisation.