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.
“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