Over 87 Land Deals for More than 1,860 Acres Closed in FY-23 Across India

Among the top 7 cities, MMR (Mumbai Metropolitan Region) saw the most with 25 land deals accounting for over 267 acres, followed by NCR with 23 land deals of approximately 274 acres. In terms of total land area transacted in the top 7 cities, Chennai topped out with around 292 acres changing hands in 9 separate deals.

Indian real estate land have shown I snapping acquisitions no signs of slowing down post-pandemic with developers up prime land parcels across India for various types of developments. Anarock data indicates that in fiscal year 202223, approximately 87 separate land deals were sealed cumulatively accounting for over 1,862 acres. In contrast, the previous FY-2021-22 saw 44 land deals accounting for roughly 1,649 acres closed across various cities.

Of all deals closed in FY-23, at least 76 accounting for around 1,059 acres were in the top 7 cities, and the remaining 11 deals accounting for for approximately 803 acres took place in Tier II & III cities including Ahmedabad, Kurukshetra, Lucknow, Nagpur, Panchkula, Panipat, Raigad and Surat.

Among the top 7 cities, MMR saw the most with 25 land deals accounting for over 267 acres, followed by NCR with 23 land deals of around 274 acres. In terms of total land area transacted in the top 7 cities, Chennai topped out with 292 acres changing hands in 9 separate deals.

"With land becoming scarcer amid the unfettered real estate development boom, leading players are pulling out all the stops to secure the best land parcels in key locations," said Anuj Puri, Chairman, Anarock Group, speaking on the renewed optimism from developers across India. "In the last financial year, the number of land deals has risen significantly - from 44 in FY22 to 87 in FY23. However, in terms of area, the increase was just 13% - implying that several smaller plots were closed in FY23."

Residential sales in the top 7 cities scaling an all-time high in the last financial year at around 3.8 lakh units as large and listed developers have been cashing in on the unrelenting housing boom.