Hero Realty Pvt Ltd has formed a new joint venture with Saheb Enterprise to develop a premium residential complex in Gurgaon. This is the second collaboration between the two companies, with the new project set to increase their land holdings to 11 acres. Hero Realty plans to launch real estate projects covering 4 million square feet this year, with an estimated revenue potential of Rs 3,500 crore.
This is the second joint venture by Hero realty with the same company. In April 2023, both the companies had entered into JV to develop an approximately 2 million square feet targeting revenue of Rs 2000 crore.
Godrej Properties is reportedly in advanced discussions to sell a 14-acre land parcel in Gurugram to Hero Realty for around Rs 730 crore. The land was purchased by Godrej Properties two years ago and the sale is surprising. The deal is said to be at an advanced stage and both parties have agreed on the transaction. Hero Realty, backed by Hero Enterprise, has multiple projects in Gurugram and plans to launch real estate projects spanning around 4 million square feet in the current financial year.
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