April 24, 2024 |
Delhi-NCR Saw 29 Land Deals for Approximately 314 Acres Closed in Fy-24; Gurugram Tops the List
In Gurugram 22 deals totaling 208.22 acres were closed of which 20 deals were exclusively for residential purpose.
Delhi-NCR saw 29 land deals spread across 314 acres closed in FY 2024 as against 23 land deals covering approximately 273.9 acres in FY 2023, data shared by Anarock shows.
Among the top cities, NCR clocked 29 land deals for more than 313 acres, followed by MMR with 19 land deals for approximately more than 157 acres, it showed.
In Delhi, one deal covering 5 acres was closed for residential development. In Gurugram 22 deals totaling 208.22 acres were closed. These included one deal each for educational, residential, and retail purposes, while the remaining 20 deals were exclusively for residential development. In Faridabad, a 15-acre land deal was finalized for residential purposes.
In Greater Noida, a 8.9-acre deal was secured for residential development. In Ghaziabad, a 62.5-acre deal was signed for a township project. Noida closed three separate deals, covering a combined area of 13.96 acres, for both residential and commercial developments.
“About 26 separate land deals, totaling approximately 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development,” said Santhosh Kumar, Vice Chairman – ANAROCK Group.
“At least two land deals, spanning over 7 acres each, were planned specifically for commercial real estate projects. A separate deal involving approximately 8.61 acres was dedicated to an education-related project,” he said.
Real estate developers and entities sealed approximately 101 separate land deals in fiscal year 2023-24, cumulatively accounting for nearly 2,989 acres across the country, according to data shared by Anarock.
In FY-24, over 83 land deals for over 1,135 acres closed in top seven cities alone, remaining 18 deals over 1,853 acres in tier 2 and 3 cities, including Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.
Source : HT
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