INSUBCONTINENT EXCLUSIVE:
MUMBAI: As many as 59 separate land deals for over 2,018 acres have been closed across the country between January and August 2023, revealed
data compiled by the Anarock Group
Of these, the Mumbai Metropolitan Region (MMR) recorded the highest number of transactions (17) cumulatively, accounting for just over 95
acres, earmarked for residential development.In the corresponding period last year, about 51 land deals for around 1,438 acres were closed
"However, very few of these deals were for large land parcels," said Anarock chairman Anuj Puri
"The three largest were in Ahmedabad for 740 acres, and one deal each in Ludhiana and Bengaluru for 300 plus acres each
In terms of deal numbers, residential real estate drew the highest."In Mumbai, the largest deal was recorded in February 2023
The Bai Kabibai Hansraj Morarji Charity Trust sold 23 acres of land to Arogya Bharati Hospitals for 540 crore in Andheri (W).According to
the Anarock report, of the 59 land deals closed in 2023 (January-August), approximately 38 deals for over 283 acres are proposed for
residential development across the top 7 cities
Five deals are for 1,136 acres and are earmarked for township projects in cities like Chennai, Ahmedabad and Ludhiana.Four deals are for
over 62 acres and are meant for mixed-use developments in Noida, Gurugram, Pune and Bengaluru
Three separate land deals for over 154 acres are for plotted developments in cities like Chennai, Raigad and Gurugram
Three deals for around 16.5 acres are for commercial development in NCR cities-Delhi, Noida and Gurugram
One large deal for over 300 acres has been earmarked for manufacturing in Bengaluru.In Mumbai, one hotel deal was registered on a 5.5-acre
plot for Rs 71 crore while Bengaluru recorded the biggest deal for manufacturing on 300 acres
In terms of total land area transacted, Ahmedabad stood out with about 740 acres transacted so far this year
Hyderabad recorded two 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 89.82 acres
This includes nine deals for a total of 61.6 acres in Gurugram, three in Noida for 19+ acres, and one in Delhi for 9 acres
Pune saw five deals for approximately 44 acres.
