Developers log land purchases worth mn in last 17 months

23 May 2023 CW Team

Real estate developers have acquired around 2,181, acres of land in the last 17 months (January 22 – May 2023) valued at over 260,000 mn, with an estimated development potential of around 209 million square feet in 104 deals, according to real estate consultant JLL. Around 578 acres was acquired in the first five months of the calendar year 2023. JLL data indicates that branded developers have successfully closed many transactions in top metropolitan cities as well as tier 2 and 3 cities.

According to JLL, Delhi NCR, Chennai, Mumbai Metropolitan Region and Bengaluru lead in terms of total land area transacted accounting for 72 per cent share (around 1,576 acres) having a development potential of around 150 million square feet in 79 separate land deals. Pune,Kolkata and Hyderabad together account for 9 per cent share. The rest was contributed by cities like Surat, Ahmedabad, Jaipur, Lucknow, Nagpur, Panchkula, and Kurukshetra.

With a combined share of 73% of the land transactions in Delhi NCR over the last 17 months, the submarkets of Panipat and Gurgaon are in the lead.

Delhi NCR and Mumbai Metropolitan Region are in first place in terms of transactions, with 53 transactions total in the previous 17 months, according to the research.

Infrastructure Transport

15 Sep 2025

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..