County Group buys 28 acre land in Noida for about Rs 450 crore

NEW DELHI: Realty firm County Group has purchased 28 acre land in Noida for about Rs 450
crore to develop a luxury housing project as part of its expansion plan. With revival in housing
demand, real estate developers have started acquiring land through outright deal and also
through the formation of joint development agreements (JDAs).
According to sources, County Group recently bought the 28-acre land parcels, which belonged
to realty firm Ambience group. Indiabulls Housing Finance has sold this land to recover its loan
from the Ambience Group.
When contacted, Amit Modi, Director County Group, confirmed the deal and said the registration
process has been completed.

County group will also clear dues to Noida authority against this land and take all necessary
clearances to start development on this project.
Modi said the company will develop a luxury project on this land.
In 2019, County Group was formed by promoters of ABA Corp. The first housing project was
launched in Greater Noida, Uttar Pradesh with an investment of about Rs 300 crore.
Delhi-NCR market has witnessed many land deals this year as builders looked to expand their
presence to encash revival in demand.
Earlier this year, realty firm Elan Group bought 40 acres of land in Gurugram from Indiabulls
Real Estate Ltd (IBREL) for Rs 580 crore for the development of housing and commercial
projects on the Dwarka Expressway. It has also acquired a 7.65-acre land parcel in Gurugram
from Ambience group for about Rs 200 crore.
Last month, Godrej Properties won two adjacent land parcels totalling 12.4 acres in Noida for a
total bid value of Rs 377 crore.
M3M Group has bought 13 acre land in Noida for Rs 827.41 crore through auction. The total
acquisition cost would reach Rs 1,200 crore, including lease rent and registration charges.
In August, Max Ventures & Industries Ltd (MaxVIL), which is part of Max Group, won a bid to
acquire about 4 acres of land in Noida for Rs 220 crore for development of a commercial
project.
MaxVIL had, in September, acquired Acreage Builders at an enterprise value of Rs 322.50 crore
as part of its strategy to expand its real estate business in Delhi-NCR. Acreage Builders owns
7.15 acres of land at Golf Course Road in Gurugram.