Gurgaon-based Elan Group has acquired a 7.65 acre land parcel from Ambience group for about Rs. 200 crore, three people aware of the deal said. The land is located at Sector 82, Gurgaon and the builder will develop one million sq ft of commercial project comprising of retail, office, service apartments and a hotel.
This is the second land transaction in the micro market in less than a month. Few days ago, Pardos Real Estate, a development platform by the DMI Group’s $250-million Alternative Investment Fund, had acquired a 7-acre land parcel.
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