Given the increasing importance of land as a valuable resource, real estate developers are prepared to pay substantial amounts to enter the realty business.
Major Land Deals
Lodha Developers secured a significant deal worth Rs 4,053 crore for a plot spanning 25,000 square meters. The cost per square meter amounted to approximately Rs 81,818.
Sunteck India followed with a deal valued at Rs 3,465 crore. Indiabulls Real Estate came in next with a deal worth Rs 3,327 crore, backed by Gaurhari Estate's Rs 2,251 crore deal.
In 2008, BPTP, a Delhi-based builder, attempted a deal worth Rs. 5,000 crore for a 95-acre plot in Noida, but unfortunately, this deal did not materialize.
Lodha Developers' Future Plans
IPO Launch: Lodha Developers plans to launch an Initial Public Offering (IPO) valued at 650 million dollars by the end of this year.
Residential Project: Additionally, the developer aims to construct a residential building worth Rs. 10,500 crore in the heart of Mumbai.