These include both listed and unlisted players. For instance, listed players Godrej Properties, Oberoi Realty, Prestige Estates and Brigade Enterprises have purchased over 400 acres, whereas even private developers such as Birla Estates have bought around 35 acres.
According to data from Anarock Research, around 180 deals spanning 5,215 acres have been done in the past two years. This comes at a time when residential sales hit a decadal high last year.
Leading the pack of land buyers is Godrej Properties, which has acquired 250 acres in the last two years in tier 1, 2 and 3 cities, according to data from TruBoard Partners, a real estate services firm. This was in stark contrast with its business model before the pandemic where it opted for an 'asset-light model'. Analysts say this change of making outright purchases came because it realised the business potential in residential properties. It has bought land parcels in Bengaluru, Gurugram and Nagpur in recent months.
This story is from the February 07, 2024 edition of Financial Express Mumbai.
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This story is from the February 07, 2024 edition of Financial Express Mumbai.
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