The Company has initiated the process of development of its land parcel admeasuring about 67.275 acres in Revenue Estate of Village Bir, Sector – 23, Hisar, District Hisar, Haryana (referred as ‘said land’).
In this connection, the Company has entered into a ‘Joint Development Agreement’ with GCD Prime on 11th August 2022 for developing the said land into plotting project under Deen Dayal Jan Awas Yojna (DDJAY). The Promoters of GCD Prime have significant presence for real estate development in many cities of the state of Haryana through the entities promoted by them.
The Director General, Town and Country Planning, Haryana, Chandigarh had granted License No. 179 dated 7th November 2022 for the development of the said land under joint venture.
The said license is subject to certain conditions to be complied in the process of development and sale of said Project.
The matter of seeking other government / regulatory approval(s) including of Real Estate Regulatory Authority (RERA) are in process.