Realty project in Mohali
One Group Developers has decided to invest ₹300 crore in a stalled project of Puma realtors in Mohali, following the National Company Law Tribunal's approval of the project. Puma realtors, which is a subsidiary of Ireo group, has secured approval from NCLT and this has given hope to thousands of homebuyers stuck in the projects for over a decade. Work on group housing, which is spread over 7.6 acres and has 449 flats, is 90% complete and the company will invest in completing the remaining part of the project. Also, the developers had planned plotted developments on sold plots in 25-acre. The resolution professional had received nine expressions of interest to acquire the project and two of them had submitted the bid whereby homebuyers and lenders voted for One Group, which is executing 21 projects across six states in the country and is largely focused on tier 2 cities, which are close to the metro city in areas like Rohtak, Bhiwadi Agra, Sohna and Mohali.