At Least 97 Land Deals for 2707+ Acres Closed Across India in 2023



 

  • In contrast, 2022 saw 82 land deals for 2,508+ acres closed; thus, 2022 and 2023 together saw 179 deals for 5215+ acres
  • Of 97 land deals in 2023, approx. 74 deals for 1,945+ acres were proposed for residential development, approx. 565 acres for Industrial & Logistic Parks and Manufacturing, 126+ acres for mixed-use development & 27.5 acres for commercial and IT Park, among others 
  • Among the top 8 cities – MMR, NCR, Bengaluru, Hyderabad, Chennai, Kolkata, Pune & Ahmedabad – Ahmedabad tops land deal share with 27% (for 739.8 acres), Bengaluru a distant 2nd with 16% share (approx. 424.5 acres) & MMR with 11% share (289+ acres)
  • In terms of total no. of deals in 2023, the country’s two realty hotspots stood on top – MMR clocked highest (25) land deals, followed by NCR with 22 land deals

 

The land acquisition spree of financially strong developers and entities continues, and 2023 was a stand-out year with several land deals closed. Latest ANAROCK data indicates that there were at least 97 separate land deals for over 2707 acres closed in 2023 across the country. Backed by strong residential sales momentum across cities, at least 72% of the total land area closed in 2023 is slated to be used for residential development.

 

In 2022, 82 land deals for 2508+ acres were closed across the country. This means that the last two years saw at least 179 land deals for a whopping 5215+ acres closed.

 

Land deals in 2023:

 

  • Of 97 land deals closed in 2023, about 74 deals for over 1,945+ acres are proposed for residential development across tier 1, 2 and 3 cities
  • Over 564.75 acres in 6 separate deals are earmarked for Industrial & Logistic Parks and Manufacturing
  • 7 deals for over 126 acres are for mixed-use developments
  • 5 deals for over 27.5 acres are for commercial and IT Parks
  • Approx. 43.35 acres in 5 separate deals earmarked for other asset classes including retail, hospitality, and some are undecided

 

Proposed Development

No. of Land Deals

Approx. Size (acres)

Residential including plotted development & Township Project

74

1945.49

Industrial, Logistics & Manufacturing

6

564.75

Mixed-Use

7

126.16

Commercial & IT Park

5

27.5

Others (Hotel/Retail or Undecided)

5

43.35

Source: ANAROCK Research

 

City-wise Breakup

 

Anuj Puri, Chairman – ANAROCK Group, says, “In terms of transaction size, Ahmedabad was the front-runner with the biggest land transaction in 2023. Land prices in the city are comparably still among the most affordable. With rising commercial and residential demand since the pandemic, developers and entities are making a beeline to Ahmedabad to close land deals here. In terms of total number of deals, MMR clocked the highest with 25 – however, these were for small land parcels covering approx. 289 acres. NCR came in second highest with 22 land deals closed in 2023.”

 

 

Top 7 Cities

No. of Deals

Approx. Size (acres)

NCR

22

190.81

MMR

25

289.59

Bengaluru

11

424.35

Hyderabad

10

143.26

Pune

6

49.34

Chennai

7

198.3

Kolkata

3

24.88

Tier 2 & 3 Cities

Cities

No. of Deals

Approx. Size (acres)

Ahmedabad

3

739.83

Sanand & Dahej (Gujarat)

2

76

Ludhiana

2

305

Karnala & Nagpur (Maharashtra)

3

172.39

Mysuru

1

4

Cuttack (Orissa)

1

57

Sonipat

1

32.5

Source: ANAROCK Research

 

 

Top Land Deals Across Cities in 2023

Deal in Quarter

Buyer

City

Approx. Size (in Acres)

Approx. Value (INR-crore)

Proposed Development

Q1-2023

Supreme Universal

Mumbai

5

311

Residential

Q1-2023

Godrej Properties

Chennai

60

100

Plotted Development

Q1-2023

Shoden Developers (House of Hiranandani)

Thane

24

655

Residential

Q1-2023

Arogya Bharati Hospitals

Mumbai

23

540

Residential

Q2-2023

VTP Realty

Pune

6.7

260

Residential

Q2-2023

Foxconn

Bengaluru

300

300

Manufacturing

Q2-2023

Ganga Realty

Gurgaon

8.35

132

Residential & Retail

Q2-2023

Kalpataru

Pune

15

JDA

Mixed Use

Q3-2023

Prestige Group

Chennai

7

JDA

IT Park

Q3-2023

Experion Developers

Gurgaon

4

400

Residential

Q3-2023

Arvind Smartspace

Ahmedabad

500

JDA

Township Project

Q3-2023

Rajpushpa Properties Pvt Ltd

Hyderabad

3.6

362

Residential

Q4-2023

TREVOC

Gurgaon

2

120

Residential

Q4-2023

Sparkle Two Mall Developers

Thane

11

429

Retail

Q4-2023

Oberoi Realty

Gurgaon

14.8

597

Residential

Q4-2023

Aethon Developers (Runwal)

Mumbai

4.13

726

Residential

Source: ANAROCK Research

 

 

  • Ahmedabad saw the highest land area transacted with 739 + acres in 3 separate deals and accounted for over 27% of the total land transacted in 2023. All 3 deals are for large township projects.
  • Bengaluru sealed 11 separate deals accounting for a 16% share of the total land area transacted in 2023, with 424+ acres changing hands – 10 deals for residential development, and one for manufacturing.
  • Land-scarce MMR saw the highest number of deals (25) for approx. 289 acres, earmarked largely for residential (20), 2 deals for mixed-use developments, and 1 deal each for an IT Park, hotel and retail developments
  • NCR saw 22 separate land deals for 190+ acres, including 16 deals for 138+ acres in Gurugram, 3 deals for 19+ acres in Noida, and one deal each in Delhi, Faridabad and Greater Noida. The proposed developments in NCR include residential, retail, mixed-use, commercial, and plotted development.
  • Hyderabad saw 9 separate deals for 69.5+ acres earmarked for residential development.
  • Pune saw 6 separate deals for 49+ acres of land, proposed for residential and mixed-use developments.
  • Chennai saw 7 deal for 198+ acres proposed for a township project, IT Park and residential development.
  • Kolkata saw 3 land deals for 24.88 acres closed.
  • Tier 2 & 3 cities, including Ludhiana, Nagpur Mysuru, Sanand and Dahej in Gujarat, among others, saw at least 10 land deals closed for 646+ acres closed in 2023. The proposed developments include residential development, township project, manufacturing, logistics park, and mixed-use.
Author: Laxman R