59 Land Deals For 2,018+ Acres Closed Across India In 2023 YTD: Anarock

In terms of total land area transacted, Ahmedabad stood out with nearly 740 acres transacted so far this year. At 17 deals, MMR saw the highest number; the total area transacted was just 95+ acres

Five deals for 1,136+ acres are earmarked for township projects in cities like Chennai, Ahmedabad, and Ludhiana. ( Image Source :Getty )

Buoyed by growing demand in the post-Covid world across various sectors of real estate in India, developers, and some business entities are coming forward to purchase land across cities. Of 59 land deals closed in 2023 (Jan-Aug), about 38 deals for 283+ acres are proposed for residential development across the top 7 cities. Five deals for 1,136+ acres are earmarked for township projects in cities like Chennai, Ahmedabad, and Ludhiana.

“Latest Anarock Research indicates that as many as 59 separate land deals for 2018+ acres have been closed across the country between January to August 2023,” said Anuj Puri,  chairman Anarock Group. “In the corresponding period last year, about 50 land deals for 1,438+ acres were closed across various cities,” he said. “However, very few of these deals were for large land parcels,” said Puri. “The three largest were in Ahmedabad, for approx. 740 acres, and one deal each in Ludhiana and Bengaluru for 300+ acres each. In terms of deal numbers, residential real estate drew the highest.”

Four deals for 62+ acres are for mixed-use developments in Noida, Gurugram, Pune, and Bengaluru. Three separate land deals for over 154 acres are for plotted developments in cities like Chennai, Raigad, and Gurugram. Three deals for nearly 16.5 acres are for commercial development in NCR cities like Delhi, Noida, and Gurugram. One large deal over 300 acres has been earmarked for manufacturing in Bengaluru.

In terms of total land area transacted, Ahmedabad stood out with nearly 740 acres transacted so far this year. At 17 deals, MMR saw the highest number; the total area transacted was just 95+ acres.

Hyderabad saw two separate deals for 18+ acres, accounting for just 1 per cent of the total land transacted between January and August 2023. NCR sealed 13 separate transactions accounting for 4 per cent of the total land transacted, for approx. 89.82 acres.

This includes 9 deals for a total of 61.6 acres in Gurugram, 3 in Noida for 19+ acres, and one in Delhi for about 9 acres. The proposed developments include residential, retail, mixed-use, commercial, and plotted development.

Bengaluru saw 8 separate deals for 401+ acres, accounting for 20 per cent of total land transacted, earmarked for manufacturing, residential, and mixed-use.

Pune saw 5 separate deals for approx. 44 acres, accounting for just 2 per cent of the total land area transacted across cities, proposed for residential and mixed-use development.

MMR saw the highest number of transactions (17) cumulatively accounting for just 95+ acres, earmarked for residential development. Chennai saw 5 deals for 178 acres, earmarked for plotted developments, residential, an IT park, and a township project.

Ahmedabad closed three deals over 740 acres, accounting for the highest share (37 per cent) of total land transactions in the country. Kolkata closed three land deals for nearly 25 acres.