Delhi-NCR continues to be a hotbed for real estate activity, with land deals playing a key role in propelling development across various sectors. A report by ANAROCK, a leading real estate consultancy, reveals the number of land deals in Delhi-NCR rose to 29 in FY24, encompassing approximately 314 acres, compared to 23 deals covering 273.9 acres in FY23.
Residential and township projects dominated land acquisitions, accounting for roughly 298 acres across 26 separate deals.
At least two land parcels exceeding seven acres each were earmarked for commercial real estate projects. A dedicated land deal of approximately 8.61 acres was secured for an education-related project.
Here’s a breakdown of the top 10 land deals based on the acquired land area:
Prestige Group: Ghaziabad (township project, 62.5 acres)
DLF Homes Developers: Gurgaon (residential, 29 acres)
Signature Global: Gurgaon (residential, 25.75 acres)
Godrej Properties: Gurgaon (residential, 14.8 acres)
Oberoi Realty: Gurgaon (residential, 14.8 acres)
Adore Group: Faridabad (residential, 15 acres)
Eldeco Group (Q3-2023): Gurgaon (residential, 8.5 acres)
Eldeco Group (Q4-2023): Greater Noida (residential, 8.9 acres)
Multiple Deals (Year-Round): Varied locations (residential & retail, residential; range: 5.56 – 8.35 acres)
Residential focus: Residential development was the primary purpose behind most deals (30), followed by commercial projects (3) and a township project (1). Notably, Q1 of 2024 saw a land deal specifically designated for an educational institution.
Experion Developers leads acquisitions: Experion Developers secured the most land across various locations in Gurgaon (totaling 19 acres) during the analyzed period. Other prominent buyers include Godrej Properties, Eldeco Group, and Signature Global.
Deal size variations: Land parcel sizes ranged from 2 acres (TREVOC – Q4 2023) to a significant 62.5 acres acquired by Prestige Group in Ghaziabad for a township project (Q1 2024).
Key findings:
Gurugram: Led the region with 22 deals, totaling over 208 acres, primarily aimed at residential development. One deal each was secured for educational, residential, and retail purposes.
Ghaziabad: Witnessed a substantial 62.5-acre deal for a township project.
Noida: Closed three deals totaling 13.96 acres for residential and commercial projects.
Faridabad and Greater Noida: Each saw a land deal finalized for residential development, covering 15 acres and 8.9 acres respectively.
Delhi: One deal involving 5 acres was closed for residential development.
“About 26 separate land deals, totaling approx. 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.
As seen in the table above, Prestige Group acquired the largest land parcel (62.5 acres) in Ghaziabad for a township project.
Smallest Land Parcels: Multiple deals involved land parcels as small as 2 acres.
Ganga Realty Deal (Q2-2023): 8.35 acres acquired in Gurgaon’s Sector 84 for residential and retail development.
Conscient Infrastructure Deal (Q2-2023): 6.6 acres acquired in Gurgaon’s Sector 80 for residential development.
Godrej Properties Deals (Q3-2023): Acquired land for residential projects in Gurgaon’s Golf Course Road (7.91 acres) and Sector-103 (14.8 acres).
Signature Global Deals: Acquired land for residential projects in Gurgaon’s Village Fazilpur (25.75 acres) and SPR (20.32 acres) during different quarters.
DLF Homes Deal (Q1-2024): Acquired 29 acres in Gurgaon’s Golf Course Ext Road for a residential project.
First Published: Apr 24 2024 | 12:03 PM IST