Anuj Puri, Chairman – ANAROCK Group
MMR Saw Highest Land Volumes Transacted in 2024 - Over 607 Acres in 30 Deals
- Back in 2023, NCR region closed 22 land deals for 190+ acres
- Overall, at least 133 land deals for 2,515 acres closed across the country in 2024, against 97 deals for 2,707+ acres in 2023 - 2023 & 2024 together saw 230 deals for 5,222+ acres
- Of total land deals in 2024, over 95 deals for approx. 1,948 acres proposed for residential development (incl. plotted developments, township projects & luxury villas) and one 5-star hotel
- 97+ acres earmarked for Industrial & Logistic Parks, 124+ acres for mixed-use development & 174+ acres for commercial and data centers, 32+ acres for senior living, 14+ acres for retail, among others
- In number of deals in top 7 cities, MMR follows NCR with 30 deals for 607+ acres, followed by Bengaluru with 26 deals for 307+ acres.
- In tier 2 & 3 cities, Ahmedabad tops with 3 deals for 44+ acres, followed by Jaipur with 2 deals for 22+ acres; Surat saw a single deal for 300 acres
Mumbai, 16 January 2025: Financially strong developers and other entities continued to acquire land in 2024 despite escalating land prices. MMR led in terms of land deal sizes, while NCR saw the greatest number of land deals closed among all cities.
Anuj Puri, Chairman – ANAROCK Group, says, "The highest land areas transacted in 2024 were in MMR, with 607+ acres in 30 separate transactions. This accounted for over 24% of the total land transacted. Residential, commercial, education and healthcare, villa projects and plotted developments, mixed-use, industrial, and data centres are among the planned developments. In total, there were at least 133 separate land deals for over 2,515 acres closed in 2024 across the country".
Land Deals in 2024
- Of 133 land deals closed in 2024, 95 deals for approx. 1,948 acres are proposed for residential development across tier 1, 2 and 3 cities
- 97+ acres in 4 separate deals are earmarked for Industrial & Logistic Parks
- 5 deals for 124+ acres are for mixed-use developments
- 12 deals for approx. 175 acres are for commercial spaces and data centres
- 78+ acres in 12 separate deals are earmarked for retail, education & healthcare, agriculture, senior living and other asset classes
- Development purpose for 5 deals spanning approx. 93 acres is still undecided
| Proposed Development | No. of Land Deals | Approx. Size (acres) |
| Residential including plotted development & Township Project & Luxury Villas with 5-star Hotel | 95 | 1947.86 |
| Industrial & Logistics | 4 | 97.32 |
| Mixed-Use | 5 | 124.14 |
| Commercial & Data Centre | 12 | 174.8 |
| Retail | 3 | 14.13 |
| Education & Healthcare | 6 | 13.38 |
| Agriculture | 1 | 18 |
| Senior Living | 2 | 32.5 |
| Not Decided Yet | 5 | 92.67 |
| Total | 133 | 2514.8 |
Source: ANAROCK Research
City-wise Breakup
"MMR and NCR saw the most land acquisition in 2024," adds Puri. "MMR saw the highest land volumes transacted with over 607 acres in 30 deals, while NCR led in deal numbers - 38 deals for over 417 acres. Land prices in both the regions have skyrocketed over the last few years, but this has not deterred developers from zeroing in one prime assets in these regions."
| Top 7 Cities | ||||||
| Cities | No. of Deals | Approx. Size (acres) | ||||
| NCR | 38 | 417.11 | ||||
| MMR | 30 | 607.03 | ||||
| Bengaluru | 26 | 307.53 | ||||
| Hyderabad | 4 | 67.1 | ||||
| Pune | 8 | 63.22 | ||||
| Chennai | 7 | 69.07 | ||||
| Kolkata | 1 | 53 | ||||
| Tier 2 & 3 Cities | ||||||
| Cities | No. of Deals | Approx. Size (acres) | ||||
| Ahmedabad | 3 | 44.37 | ||||
| Amritsar | 1 | 45 | ||||
| Andhra Pradesh | 1 | 25 | ||||
| Ayodhya | 1 | 51 | ||||
| Coimbatore | 1 | 9.03 | ||||
| Dholera | 1 | 50 | ||||
| Indore | 1 | 46 | ||||
| Jaipur | 2 | 22.2 | ||||
| Ludhiana | 1 | 59 | ||||
| Mohali | 1 | 13.14 | ||||
| Nagpur | 1 | 100 | ||||
| Shimla | 1 | 11 | ||||
| Sonipat | 1 | 20 | ||||
| Surat | 1 | 300 | ||||
| Varanasi | 1 | 75 | ||||
| Vrindavan | 1 | 60 | ||||
| Total | 133 | 2514.8 | ||||
Source: ANAROCK Research
| Top Land Deals Across Cities in 2024 | |||||
| Deal in Quarter | Buyer | City | Approx. Size (in Acres) | Approx. Value (INR-crore) | Proposed Development |
| Q1-2024 | DLF Homes Developers | Gurgaon | 29 | 825 | Residential |
| Q1-2024 | Arvind Smartspace | Surat | 300 | JDA | Plotted Development |
| Q1-2024 | Adani Realty | Mumbai | 24 | 8000 cr (or 23.5% revenue share) | Commercial |
| Q1-2024 | Godrej Properties | Bengaluru | 62 | Profit Sharing | Township Project |
| Q1-2024 | Prestige Group | Ghaziabad | 62.5 | 468 | Township Project |
| Q2-2024 | Sumadhura Group | Bengaluru | 40 | 800 | Residential |
| Q2-2024 | Signature Global | Gurgaon | 14.65 | 350 | Residential |
| Q2-2024 | Microsoft | Hyderabad | 48 | 267 | Data Centre |
| Q2-2024 | ESR India | Chennai | 27 | 276 | Logistic Park |
| Q3-2024 | Keystones Realtors | Thane | 88 | 91 | Plotted Development |
| Q3-2024 | JMS Group | Gurgaon | 6.5 | 300 | Residential |
| Q3-2024 | Astrea (The Phoenix Mills) | Coimbatore | 9.03 | 370.17 | Retail |
| Q3-2024 | Century Real Estate (Aditya Birla Real Estate) | Mumbai | 10 | 1100 | Residential |
| Q4-2024 | AAIJI Group | Dholera, Gujarat | 50 | 70 | Residential (Luxury Villas) |
| Q4-2024 | Mahindra Life spaces | Mumbai | 37 | JDA | Mixed Use |
| Q4-2024 | Macrotech Developers (Lodha) | Sohna, Gurgaon | 45 | 110 | Industrial & Logistic Park |
| Q4-2024 | House of Abhinandan Lodha (HoABL) | Varanasi | 75 | 250 | Plotted Development |
Source: ANAROCK Research
- MMR saw the highest land area transacted - 607+ acres in 30 separate deals - and accounted for over 24% of the total land transacted in 2024. The planned developments include residential, commercial, education & healthcare, villaments and plotted developments, mixed-use, industrial and data centers.
- NCR saw the highest number of deals (38) for approx. 417 acres, earmarked largely for residential (31), 3 deals for commercial projects, 2 for Industrial & Logistics Parks, and 1 deal each for agricultural and educational developments. City-wise, there were 24 deals - 273.04 acres in Gurugram, 9 deals for a total of 53.73 acres in Greater Noida, 2 deals for 18.88 acres in Delhi, two deals for 8.96 acres in Noida, and 1 deal for 62.5 acres in Ghaziabad.
- Bengaluru sealed 26 separate deals accounting for a 12% share of the total land area transacted in 2024, with 307+ acres changing hands – 22 deals for various residential developments, 2 for commercial and data center development, and 1 deal for a senior living project. The purpose for one deal remains undecided.
- Hyderabad saw 4 separate deals for 67.1+ acres earmarked for residential and data center developments.
- Pune saw 8 separate deals for 63.22+ acres proposed for residential, mixed-use and data center developments.
- proposed for retail, commercial, Logistic Park and residential developments.
- Kolkata saw 1 deal for 53 acres closed for residential development.
- Tier 2 & 3 cities together saw at least 16 land deals for 930+ acres closed in 2024. The proposed developments include residential (including plotted developments), mixed-use projects, retail, data center, and senior living.
