Listed real estate developer Omaxe announced that they had acquired more than 5 acres of land in Ludhiana. They mentioned that the acquisition was made through a competitive bidding process conducted by the Rail Land Development Authority (RLDA) and revealed that they had purchased the land for Rs 2.2 billion.
The company went on to explain that the RLDA land parcel is located in proximity to Ghumar Mandi Fountain Chowk in Ludhiana, Punjab. They further disclosed their intention to utilise the land for both residential and commercial development, anticipating that this development would contribute to the enhancement of the area's real estate market.
The realty firm stated that the acquisition underscores their commitment to expanding their presence in strategic locations connected to the national capital. They pointed out that the recently acquired land is conveniently situated, just a five-minute drive from the railway station and bus stand, according to the company.
