Buoyed by growing demand in the post-Covid world across various sectors of Indian real estate, developers and some business entities are coming forward to purchase land across cities.
“Latest research indicates that as many as 59 separate land deals for 2018+ acres have been closed across the country between January and August 2023,” says Anuj Puri, Chairman – Anarock Group. “In the corresponding period last year, about 50 land deals for 1,438+ acres were closed across various cities.”
“However, very few of these deals were for large land parcels,” says 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.”
Proposed Development | Area (acres) | No. of Deals | City |
Commercial | 16.5 | 3 | Delhi, Noida, Gurugram |
Hotel | 5.5 | 1 | Mumbai |
Industrial | 38 | 1 | Sanand, Gujarat |
IT Park | 7 | 1 | Chennai |
Manufacturing | 300 | 1 | Bengaluru |
Mixed-Use | 62.16 | 4 | Noida, Bengaluru, Gurugram & Pune |
Plotted Development | 154 | 3 | Gurugram, Raigad, Chennai |
Residential | 283.06 | 38 | Top 7 Cities |
Residential + Retail | 8.35 | 1 | Gurugram |
Township Project | 1136.33 | 5 | Chennai, Ahmedabad & Ludhiana |
Not yet Decided | 7.44 | 1 | Kolkata |
Source: ANAROCK Research
City-wise Analysis
In terms of total land area transacted, Ahmedabad stood out with approx. 740 acres transacted so far this year. At 17 deals, MMR saw the highest number; the total area transacted was just 95+ acres.
Top Land Deals Across Cities | |||||
Deal in Quarter | Buyer | City | Approx. Size (in Acres) | Approx. Value (INR-crore) | Proposed Development |
Q1-2023 | Godrej Properties | Chennai | 60 | 100 | Plotted Development |
Q1-2023 | Supreme Universal | Mumbai | 5 | 311 | Residential |
Q1-2023 | CRC Group | Noida | 11.16 | 138 | Mixed Use |
Q1-2023 | Max Estate | Gurgaon | 11.8 | JDA | Residential |
Q1-2023 | Arogya Bharati Hospitals | Mumbai | 23 | 540 | Residential |
Q2-2023 | VTP Realty | Pune | 6.7 | 260 | Residential |
Q2-2023 | Ajmera Realty | Mumbai | 1.24 | 76 | Residential |
Q2-2023 | Birla Estates | Bengaluru | 28.6 | - | Residential |
Q2-2023 | Foxconn | Bengaluru | 300 | 300 | Manufacturing |
Q2-2023 | Ganga Realty | Gurgaon | 8.35 | 132 | Residential & Retail |
Q2-2023 | Adani Infrastructure | Ahmedabad | 35.83 | 325 | Township Project |
July-Aug.-2023 | Godrej Properties | Gurgaon | 7.91 | 900 | Residential |
July-Aug.-2023 | Arvind Smartspace | Ahmedabad | 500 | JDA | Township Project |
July-Aug.-2023 | Rajpushpa Properties Pvt Ltd | Hyderabad | 3.6 | 362 | Residential |
July-Aug.-2023 | UK's Malhotra group | Ludhiana | 300 | 150 | Township Project |
Source: ANAROCK Research
Cities | Land Area (Acres) | No. of Deals |
Ahmedabad | 739.83 | 3 |
Bengaluru | 401.05 | 8 |
Chennai | 177.74 | 5 |
NCR | 89.82 | 13 |
Sanand, Gujarat | 38 | 1 |
Hyderabad | 18.6 | 2 |
Kolkata | 24.88 | 3 |
Ludhiana | 300 | 1 |
MMR | 95.46 | 17 |
Pune | 43.96 | 5 |
Raigad | 89 | 1 |
Source: ANAROCK Research