Land Deals Surge in Delhi-NCR in FY 2024
According to recent data from Anarock, the Delhi-NCR region witnessed a notable increase in land deals in the Financial Year 2024. A total of 29 land deals were closed, spanning approximately 314 acres. This marks a significant rise compared to FY 2023, which saw 23 land deals covering about 273.9 acres.
Top Performing Cities
- Delhi-NCR led the pack with 29 land deals for over 313 acres.
- Mumbai Metropolitan Region (MMR) followed closely with 19 deals for more than 157 acres.
City-Wise Breakdown for Delhi-NCR
- Delhi: A single 5-acre residential development deal was completed.
- Gurugram: 22 transactions totaling 208.22 acres were closed. These included:
- 1 mixed-use deal for educational, residential, and retail purposes.
- 20 deals solely for residential development.
- Faridabad: A substantial 150-acre residential land deal was finalized.
- Greater Noida: Secured an 8.9-acre residential development deal.
- Ghaziabad: Signed off on a 62.5-acre township project.
- Noida: Closed three other deals totaling 13.96 acres for both residential and commercial developments.
Insights from Anarock Group
“About 26 separate land deals, totaling approximately 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development,” noted Santhosh Kumar, Vice Chairman of the Anarock Group.
Kumar further explained, “At least two land transactions involving more than 7 acres each were intended solely for commercial real estate projects. Additionally, a separate transaction involving about 8.61 acres was dedicated to an educational project.”
National Overview
Anarock's data also highlighted that across India, real estate developers and entities dealt with approximately 101 separate land transactions in FY 2023-24, totaling nearly 2,989 acres. Of these:
- Over 83 land deals totaling over 1,135 acres were completed in the top seven cities.
- The remaining 18 deals totaling 1,853 acres closed in tier 2 and 3 cities, including Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.