AIPL Acquires 43-Acre Gurugram Land for ₹1,000 Crore via DRT

• ₹1,000 crore DRT-led deal clears dues of six banks

• 43-acre land parcel located along Dwarka Expressway, Sector 103

• Site to anchor AIPL’s upcoming integrated township project

Gurugram: Real estate developer Advance India Projects Limited (AIPL) has completed the acquisition of a 43-acre land parcel in Sector 103, Gurugram, for ₹1,000 crore through the Debt Recovery Tribunal (DRT) route, marking one of the notable distressed-asset resolutions in the National Capital Region.

The transaction has enabled the settlement of outstanding dues owed to six banks, offering a clean exit to lenders and reinforcing confidence in the DRT mechanism for resolving non-performing assets (NPAs). Industry experts view the deal as a strong example of how stalled or stressed land assets can be brought back into the development cycle.

The newly acquired land sits strategically along the Dwarka Expressway, one of the fastest-growing real estate corridors in NCR. AIPL plans to use the site as the foundation for its ambitious integrated township project, aimed at delivering large-scale residential development with modern infrastructure and lifestyle amenities.

According to market sources, AIPL is consolidating a sizeable land bank of nearly 80 acres for the township and may add another 20 acres in the future. The project, branded as AIPL Lake City, has already seen the launch of its first phase, Riviera, developed on around 5.14 acres. This phase includes two 43-storey residential towers and is estimated to generate nearly ₹1,500 crore in revenue.

The overall township is expected to have a revenue potential exceeding ₹20,000 crore over multiple phases. Average selling prices are estimated at around ₹16,500 per square foot, while construction costs are pegged at approximately ₹7,000 per square foot, reflecting the premium positioning of the project.

Gurugram’s real estate market, particularly along the Dwarka Expressway belt, has seen sharp appreciation in recent years, driven by infrastructure upgrades and rising demand for integrated townships. Property prices in the region have reportedly surged significantly since 2020, attracting both end-users and long-term investors.

Founded in 1991, AIPL has delivered over 60 projects across commercial and residential segments and is known for its focus on timely delivery. With possession for the Lake City project expected by December 2030, the latest land acquisition is set to play a key role in shaping the next phase of Gurugram’s urban expansion.