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Amid the spiking prices, Delhi-NCR continues to be a hotbed for real estate activity. Land deals are playing a key role in propelling development across various sectors as a recent report reveals that the number of land deals in Delhi-NCR rose to 29 in FY24.
A report by ANAROCK, a leading real estate consultancy, said these deals encompass approximately 314 acres, compared to 23 deals covering 273.9 acres in FY23.
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Residential and township projects dominated land acquisitions, accounting for roughly 298 acres across 26 separate deals, the report said.
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The report highlighted that Gurgaon emerged as the prime location for major land deals, attracting developers like DLF Homes (29 acres) and Signature Global (25.75 acres) for large-scale residential projects.
Majority of the deals (22) occurred in Gurgaon, followed by Noida (5) and Greater Noida (2). Delhi and Faridabad saw limited activity with 1 deal each, it said.
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.
As per the report, the top 10 land deals based on the acquired land area were 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) and Multiple Deals (Year-Round): Varied locations (residential & retail, residential; range: 5.56 – 8.35 acres).
One of the key deals was of Zomato CEO Deepinder Goyal, who acquired land in Delhi’s Dera Mandi village of 5 acres — in two separate transactions of 2.5 acres each. The transaction value of the deal was Rs 79 crore.
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