NEW DELHI: Builders and other entities looking to expand their business, especially amid surge in housing demand, have completed at least 29 land deals involving 721 acres during January-March this year, according to Anarock. .
During the entire 2023-24 financial year, property consultant Anarock said real estate developers and other entities have closed 101 land deals, totaling 2,989 acres.
Land deals in terms of acres have increased by 61 percent year-on-year in January-March 2024 and by 58 percent year-on-year in 2023-24.
At least 26 land deals for about 449 acres were closed during January-March 2023, while 88 land deals for 1,886 acres were struck during the entire 2022-2 financial year.
These land deals, which took place in major Tier I, Tier II and Tier II cities, include outright buy-sell transactions and partnerships with landowners called Joint Development Agreements (JDAs).Anarock Chairman Anuj Puri said, “Out of the total land deals in 2023-24, more than 83 deals covering around 1,135 acres were closed in the top 7 cities alone.
“The remaining 18 deals, for over 1,853 acres, were sealed in various tier 2 and 3 cities like Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana and Surat.
“Tier 2 and 3 cities have once again emerged as growth engines, thanks to the rapid improvement in their infrastructure and growth opportunities,” Puri said.
Among cities, Anarock highlighted that a maximum of 12 land deals for 160 acres were struck in Delhi-NCR during January-March 2024 and 29 land deals for 313 acres in the entire 2023-24 financial year.
Commenting on the findings, Akash Ohri, Joint Managing Director, DLF Home Developers Limited, said, “Land deals are at a peak in NCR due to urbanization, infrastructure development and investment opportunities.Future growth and potential returns on investment are high contributors to growth in LAN transactions."
Ohr said the boom in land deals underscores the boom in the housing market.
“Demand for all types of properties, from mid-segment to luxury, is strong and this is resulting in a large number of land deals happening across the country, including Delhi-NCR,” said Pradeep Agarwal, Chairman, Signature Global.
“This is expected to pave the way for a strong pipeline of new projects in the coming months, which is likely to provide home buyers with a wider range of options to choose from,” Agarwal said.,
Mohit Malhotra, founder and CEO of realty firm Neoliv, said the increase in LAN deals reflects the sustainable demand for housing that is likely to persist through 2023.
“The mid-housing segment is experiencing significant growth, reflecting the growing preferences of home buyers,” Malhotra said.
According to Anarock data, out of the total land deals in FY 2023-24, around 80 land deals for 2,252 acres are for proposed residential, plot development and township projects.
Closed 4 separate deals totaling over 42 acres in commercial and retail real estate projects.
At least 79 acres of land has been earmarked for mixed development in 4 separate deals.About 164 acres of land was closed in 5 separate deals for an industrial, IT park, a logistics park.
The three land deals, covering 411.75 acres, were for setting up manufacturing facilities.
Among real estate developers, DLF, Godrej Properties, Macrotech Developers Prestige Group, Brigade Group, Signature Global, Birla Estates, Eldeco and Mahindra Lifespaces, among others, were engaged in land acquisition during the last financial year.
During the entire 2023-24 financial year, property consultant Anarock said real estate developers and other entities have closed 101 land deals, totaling 2,989 acres.
Land deals in terms of acres have increased by 61 percent year-on-year in January-March 2024 and by 58 percent year-on-year in 2023-24.
At least 26 land deals for about 449 acres were closed during January-March 2023, while 88 land deals for 1,886 acres were struck during the entire 2022-2 financial year.
These land deals, which took place in major Tier I, Tier II and Tier II cities, include outright buy-sell transactions and partnerships with landowners called Joint Development Agreements (JDAs).Anarock Chairman Anuj Puri said, “Out of the total land deals in 2023-24, more than 83 deals covering around 1,135 acres were closed in the top 7 cities alone.
“The remaining 18 deals, for over 1,853 acres, were sealed in various tier 2 and 3 cities like Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana and Surat.
“Tier 2 and 3 cities have once again emerged as growth engines, thanks to the rapid improvement in their infrastructure and growth opportunities,” Puri said.
Among cities, Anarock highlighted that a maximum of 12 land deals for 160 acres were struck in Delhi-NCR during January-March 2024 and 29 land deals for 313 acres in the entire 2023-24 financial year.
Commenting on the findings, Akash Ohri, Joint Managing Director, DLF Home Developers Limited, said, “Land deals are at a peak in NCR due to urbanization, infrastructure development and investment opportunities.Future growth and potential returns on investment are high contributors to growth in LAN transactions."
Ohr said the boom in land deals underscores the boom in the housing market.
“Demand for all types of properties, from mid-segment to luxury, is strong and this is resulting in a large number of land deals happening across the country, including Delhi-NCR,” said Pradeep Agarwal, Chairman, Signature Global.
“This is expected to pave the way for a strong pipeline of new projects in the coming months, which is likely to provide home buyers with a wider range of options to choose from,” Agarwal said.,
Mohit Malhotra, founder and CEO of realty firm Neoliv, said the increase in LAN deals reflects the sustainable demand for housing that is likely to persist through 2023.
“The mid-housing segment is experiencing significant growth, reflecting the growing preferences of home buyers,” Malhotra said.
According to Anarock data, out of the total land deals in FY 2023-24, around 80 land deals for 2,252 acres are for proposed residential, plot development and township projects.
Closed 4 separate deals totaling over 42 acres in commercial and retail real estate projects.
At least 79 acres of land has been earmarked for mixed development in 4 separate deals.About 164 acres of land was closed in 5 separate deals for an industrial, IT park, a logistics park.
The three land deals, covering 411.75 acres, were for setting up manufacturing facilities.
Among real estate developers, DLF, Godrej Properties, Macrotech Developers Prestige Group, Brigade Group, Signature Global, Birla Estates, Eldeco and Mahindra Lifespaces, among others, were engaged in land acquisition during the last financial year.
