101+ land deals closed in FY24: Is residential segment the primary catalyst?

Residential sector drives land deals: realty market of country witnessed a notable surge in land deals, primarily fuelled by thriving residential segment. Approximately 101 separate land deals were finalised, covering an expansive total area of nearly 2,989 acres across country. This represents a substantial increase from previous fiscal year, which recorded 88 land deals spanning approximately 1,886 acres, according to a report by Anarock.

Notably, top 7 cities emerged as hotspots for real estate investments, witnessing over 83 land deals encompassing about 1,135 acres. Concurrently, tier 2 and 3 cities such as Ahmedab, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat also experienced a surge in land acquisitions, accounting for 18 deals spanning over 1,853 acres.

NCR les land deals

Amongst top cities, National Capital Region (NCR) led pack with 29 land deals covering 313+ acres, followed closely by Mumbai Metropolitan Region (MMR) with 19 deals spanning approximately 157+ acres. Bengaluru, however, emerged as city with largest total land area transacted, with 14 deals amounting to 490+ acres.

surge in land transactions is paralleled by booming residential sales, which reached a historic peak of approximately 4.93 lakh units across top 7 cities in FY2024. Large and listed developers capitalised on this demand, driving significant land acquisitions across prominent urban micro-markets.

Diverse projects sprout from land deals

Proposed developments stemming from se land deals encompass a diverse array of projects, including residential, commercial, retail, industrial, and logistics ventures. Approximately 80 separate land deals, spanning approximately 2,252 acres, are earmarked for proposed residential, plotted development, and township projects. Notable developments include residential deals in Pune, Bengaluru, MMR, Hyderab, NCR, Chennai, Mysuru, Ayodhya, and Jaipur, as well as township projects slated in Ahmedab, Bengaluru, Thane, Ludhiana, and Ghaziab.

Commercial and retail sectors also witnessed four separate deals spanning over 42 acres. Mixed-use developments, industrial parks, IT parks, and logistics parks furr contributed to real estate investments across various cities.

Who's shaping tomorrow's skylines?

Key players driving se developments include Godrej Properties, Eldeco Group, ani Realty, Signature Global, Oberoi Realty, DLF India, Prestige Group, K Raheja Corp, and Brige Group, amongst ors.

In fiscal year 2024, several notable land deals unfolded across various cities in India. In first quarter, ESR India acquired 38 acres in Sanand, Gujarat, for industrial development, while Birla Estates secured 28.6 acres in Bengaluru for residential purposes. ditionally, Foxconn me a substantial investment in Bengaluru, acquiring 300 acres for manufacturing facilities. K Raheja Corp me a move in Mumbai, purchasing 4 acres for residential development.

Moving into second quarter, Prestige Group acquired 2.3 acres in Mumbai for residential purposes, while Godrej Properties invested in 7.91 acres in Gurugram for residential development. ArvindSmartspace initiated a large-scale project in Ahmedab with acquisition of 204 acres for a township project, and UK's Malhotra group me a significant investment in Ludhiana, acquiring 300 acres for anor township project.

In third quarter, Eldeco Group invested in 8.9 acres in Greater Noida for residential development, while Greenscape IT Park acquired 4 acres in Navi Mumbai for an IT park. ESR India expanded its footprint in Nagpur with acquisition of 58 acres for a logistic park, and Mahindra Lifespaces secured 5.38 acres in Pune for residential purposes.

As fiscal year progressed into fourth quarter, DLF Homes Developers me a notable investment in Gurugram, acquiring 29 acres for residential development. Lodha Group ventured into Ayodhya with acquisition of 51 acres for residential projects, while Brige Group expanded its presence in Chennai with acquisition of 16 acres for a mix of residential and hospitality developments. Signature Global also me a move in Gurugram, acquiring 20.32 acres for residential purposes.