Building on its strength in 2023, the land deals boom goes unabated in 2024.
The land acquisition spree of financially strong developers and entities continues in the new year as 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 contrast, in 2022, 82 land deals for 2508+ acres were closed across the country.
Source: ANAROCK Research
Source: ANAROCK Research
Going forward on 1945.49 acre land involving 74 deals, residential developments will be done. Industrial logistics and manufacturing units will come up over 564.75 acres of land bought through 6 deals. Mix-use projects will be developed over 126.16 acres of landacquired through 7 deals. Commercial and IT Parks will come up over 27.5 acres of land acquired through 5 deals. Hotels, retail developments etc will be seen over 43.35 acres of land involving 5 deals.
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