Mumbai 21 August 2023: 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.

Anuj Puri,

“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,” 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.”

  • Of 59 land deals closed in 2023 (Jan-Aug), approx. 38 deals for 283+ acres are proposed for residential development across the top 7 cities
  • 5 deals for 1,136+ acres are earmarked for township projects in cities like Chennai, Ahmedabad and Ludhiana
  • 4 deals for 62+ acres are for mixed-use developments in Noida, Gurugram, Pune and Bengaluru
  • 3 separate land deals for over 154 acres are for plotted developments in cities like Chennai, Raigad and Gurugram
  • 3 deals for approx. 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.
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

Hyderabad saw 2 separate deals for 18+ acres, accounting for just 1% of the total land transacted between January and August 2023.

NCR sealed 13 separate transactions accounting for 4% 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 approx. 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% of total land transacted, earmarked for manufacturing, residential, and mixed-use.

Pune saw 5 separate deals for approx. 44 acres, accounting for just 2% 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 approx. 178 acres, earmarked for plotted developments, residential, an IT park, and a township project.

Ahmedabad closed 3 deals over 740 acres – accounting for the highest share (37%) of total land transactions in the country

Kolkata closed 3 land deals for approx. 25 acres.

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