More than 1,500 acres of land that real estate developers have recently acquired through JDAs: a JLL report

Joint Development Agreements on the Rise in India's Real Estate Market

### Overview of JDAs in the Past 18 Months

According to a recent report by JLL, a total of 56 Joint Development Agreements (JDAs) were signed between landowners and real estate developers in India, spanning across approximately 1,546 acres of land. This collaboration occurred over the past 18 months, from January 2023 to June 2024.

### Breakdown of JDAs by Timeframe

* **2023:** Approximately 990 hectares (or around 990 acres) of the total JDAs were signed in this year alone.
* **First Half of 2024:** The remaining 556 acres were signed, indicating sustained activity in this space.

### Benefits and Outcomes of JDAs

Joint Development Agreements have proven highly effective, enabling developers to venture into new markets and cities while providing landowners with additional benefits. Notably, several prominent foreign developers entering the Indian real estate market have adopted this strategy with encouraging outcomes. Over the eighteen-month period, these collaborations have generated over 120 million square feet of development potential.

### Sector-Wise Distribution of JDAs

* **Residential Sector:** 
    + **Share in Signed Agreements:** Over 97% (1,501 acres)
    + **Development Potential:** Approximately 110 million sqft
    + **Estimated Gross Development Value (GDV):** Around Rs 99,460 crore
    + **Quote by Dr. Samantak Das, Chief Economist and Head of Research and REIS, India, JLL:**
        - "The proposed residential developments have a significant share... offering a development potential of 110 million sqft..."
        - "Real estate developers have been introducing new housing projects regularly due to the rising demand for housing in recent years..."
* **Commercial Projects:** 
    + **Area Allocated:** 45 acres
    + **Type of Projects:** Primarily office buildings with leases

### City-Wise Analysis of JDAs

* **Smaller Cities:**
    + **Leaders in Area Transacted:** Ahmedabad and Surat
    + **Driven by:** Land availability and cost
* **Larger Cities:**
    + **Leaders in Number of Deals:** Delhi NCR, Bengaluru, and Mumbai
    + **Total Area Share:** 26% of the total area
    + **Deal Share:** 64% (36 deals)
    + **Notable Mention by Nishant Kabra, Head of JLL’s Capital Markets (North and West India), India:**
        - "...Delhi NCR, Bengaluru, and Mumbai— accounted for a significant Rs 83,927 crore, or over 84% of the total residential GDV (Rs 99,460)..."


### Insights into Key Cities

* **Delhi NCR:**
    + **Number of JDAs:** 20
    + **Total Area:** About 233 acres
    + **Development Potential:** 36.5 million square foot
    + **Notable Deals:** Mostly in Gurgaon, along the Dwarka Expressway and Southern Peripheral Road corridors
* **Bengaluru:**
    + **Number of Deals:** 9
    + **Total Area:** Over 102 acres
    + **Development Potential:** Approximately 11 million square feet
    + **Notable Areas:** Old Madras Road, Whitefield, Yelahanka, and a significant transaction in North Bengaluru
* **Mumbai:**
    + **Number of Transactions:** 7
    + **Total Area:** 62.5 acres
    + **Development Potential:** 9.9 million square foot