Mumbai: Gurugram-based real estate developer AIPL has acquired a 43-acre land parcel in Sector 103, Gurugram, for approximately ₹1,000 crore through the Debt Recovery Tribunal (DRT) process. The acquisition marks a key milestone in AIPL’s strategic expansion along the fast-developing Dwarka Expressway corridor.
The transaction reinforces AIPL’s long-term vision of developing landmark real estate projects in high-growth urban markets, while also enabling financial resolution for institutional lenders involved in the asset.
Part of AIPL Lake City Township
The acquired land is part of the larger AIPL Lake City, an integrated 80-acre township, with plans already underway to further expand the land bank by an additional 20 acres. Once fully developed, the township is expected to generate a combined revenue potential exceeding ₹20,000 crore, positioning it among Gurugram’s most ambitious mixed-use developments.
Launch of Ultra-Premium Phase ‘Riviera’
AIPL has already launched the first residential phase of the township, Riviera, an ultra-premium housing project spread across 5.14 acres. The project comprises two high-rise towers, offering panoramic views, modern architecture, and world-class lifestyle amenities. This phase alone carries an estimated revenue potential of ₹1,500 crore, reflecting sustained demand for luxury residences in the NCR region.
Management Commentary
Commenting on the development, Ishaan Singh, Director, AIPL, said:
“With AIPL Lake City, our focus is on creating thoughtfully planned living environments that align with modern aspirations. This acquisition strengthens our land bank in one of Gurugram’s most promising micro-markets and reflects our confidence in the long-term growth of the Dwarka Expressway. Through quality execution, sustainable design, and integrated planning, we aim to set new benchmarks in township living.”
Strategic Outlook
AIPL’s phased development strategy and strategic land acquisition position Lake City as a compelling destination for both end-users and investors, while contributing to Gurugram’s broader infrastructure development and economic momentum.
