‘Realty mkt sees 28 land deals comprising over 1,200 acres so far this yr’

Real property market has witnessed no less than 28 land deals, together with outright purchases and joint ventures, so far this yr comprising over 1,200 acres, in response to property advisor Anarock.

The advisor famous that the urge for food for land acquisition continues unabated for builders and different entities within the post-COVID world.

Anarock highlighted that builders are eyeing prime land at key areas throughout India for future developments throughout actual property asset courses.

“In comparability to H1 2021, the variety of deals has doubled from 14 deals in H1 2021 to 28 deals between January 2022 until date,” Anarock Chairman Anuj Puri mentioned.

As anticipated, he mentioned residential improvement stays the prime focus, given the strong housing demand regardless of a hike in rate of interest and property costs.

Since the start of this yr, Anarock mentioned that numerous entities sealed no less than 28 separate land deals cumulatively accounting for over 1,237 acres throughout the nation.

Of the overall transacted land, no less than 18 deals accounting for 351 acres are earmarked for a number of residential tasks throughout cities.

At least 3 deals for over 115 acres are proposed for knowledge centres, whereas two deals for over 63 acres are for logistics and warehousing tasks.

At least 4 deals for over 108 acres are for mixed-use developments.

“A single, presently nameless land deal for 600 acres has taken place in Hyderabad,” Anarock mentioned.

Hyderabad market remained extremely energetic within the interval, with probably the most land transactions. The metropolis witnessed 5 separate deals for 715 acres.

Bengaluru noticed three separate deals for a complete of 140 acres earmarked for residential, mixed-use, and logistics developments Delhi-NCR additionally sealed 5 separate deals involving 106.3 acres.

This contains 2 deals for a complete of 91 acres in Gurugram, and one deal every in Delhi, Faridabad and Noida.

The proposed developments embrace residential, mixed-use and warehousing

Pune noticed 5 separate deals for over 91.1 acres of land.

Land-starved MMR noticed 5 deals involving 54.85 acres, all earmarked for residential developments.

Chennai witnessed one deal for five.5 acres the place a mixed-use improvement has been proposed.

Tier 2 & 3 cities with main land deals included Ahmedabad (2 deals for over 6 acres), Nagpur (1 deal for over 58 acres), and Sonipat (1 deal for over 50 acres), Anarock mentioned.

The main builders and entities who purchased land parcels for residential developments embrace Godrej Properties, Oberoi Realty, (*28*) LifeSpaces, Gaurs Group, Birla Estates, Hetero Group, Microsoft, and Mapletree Logistics, amongst others.

(Only the headline and film of this report could have been reworked by the Business Standard employees; the remainder of the content material is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has all the time strived arduous to offer up-to-date info and commentary on developments which might be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on methods to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough instances arising out of Covid-19, we proceed to stay dedicated to protecting you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.

We, nonetheless, have a request.

As we battle the financial influence of the pandemic, we want your help much more, so that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the targets of providing you even higher and extra related content material. We imagine in free, honest and credible journalism. Your help by way of extra subscriptions may help us practise the journalism to which we’re dedicated.

Support high quality journalism and subscribe to Business Standard.

Digital Editor