+
Growing demand for land: Real estate market sees increased activity
Real Estate

Growing demand for land: Real estate market sees increased activity

The residential real estate market's ongoing recovery and rising demand for warehousing and data center spaces have sparked a surge in property developers' interest in acquiring land parcels nationwide. In key property markets like Mumbai, Bengaluru, Delhi-National Capital Region, Pune, Chennai, and Hyderabad, numerous land transactions, including outright acquisitions and joint ventures, have been finalised or are nearing completion.

Data from JLL India reveals that realty developers have secured approximately 2,181 acres of land through 104 separate deals, valued at over ?26,000 crore, between January 2022 and May 2023.

These land banks have an estimated development potential of around 209 million square feet.

In the first five months of 2023 alone, 578 acres, accounting for 27% of the total, were acquired.

Branded developers have demonstrated success in closing land transactions across major metros as well as tier-2 and tier-3 cities. Niranjan Hiranandani, Managing Director of Hiranandani Group, emphasised that the growing momentum in land deals stems from the desire to establish a robust project pipeline that meets the buoyant housing demand. This trend is evident in metros and top cities as real estate players seek geographical diversification in their portfolios.

Hiranandani further noted that increased land deals signify enhanced capital expenditure utilisation, aimed at generating higher sales and revenue in the upcoming quarters. The Mumbai Metropolitan Region (MMR), Delhi-NCR, Chennai, and Bengaluru have taken the lead in terms of total land area transacted, accounting for a 72% share of approximately 1,576 acres. These transactions boast a development potential of around 150 million square feet across 79 land deals.

The residential real estate market's ongoing recovery and rising demand for warehousing and data center spaces have sparked a surge in property developers' interest in acquiring land parcels nationwide. In key property markets like Mumbai, Bengaluru, Delhi-National Capital Region, Pune, Chennai, and Hyderabad, numerous land transactions, including outright acquisitions and joint ventures, have been finalised or are nearing completion. Data from JLL India reveals that realty developers have secured approximately 2,181 acres of land through 104 separate deals, valued at over ?26,000 crore, between January 2022 and May 2023. These land banks have an estimated development potential of around 209 million square feet. In the first five months of 2023 alone, 578 acres, accounting for 27% of the total, were acquired. Branded developers have demonstrated success in closing land transactions across major metros as well as tier-2 and tier-3 cities. Niranjan Hiranandani, Managing Director of Hiranandani Group, emphasised that the growing momentum in land deals stems from the desire to establish a robust project pipeline that meets the buoyant housing demand. This trend is evident in metros and top cities as real estate players seek geographical diversification in their portfolios. Hiranandani further noted that increased land deals signify enhanced capital expenditure utilisation, aimed at generating higher sales and revenue in the upcoming quarters. The Mumbai Metropolitan Region (MMR), Delhi-NCR, Chennai, and Bengaluru have taken the lead in terms of total land area transacted, accounting for a 72% share of approximately 1,576 acres. These transactions boast a development potential of around 150 million square feet across 79 land deals.

Next Story
Real Estate

Shriram Properties Launches ‘Codename: The One’ in Bengaluru

Shriram Properties (SPL), a leading real estate developer focused on the mid-market and mid-premium segments, has announced the launch of its latest residential project under the banner “Codename: The One” in Bengaluru’s Electronic City corridor. This feature-rich gated community will offer 340 spacious 2- and 3-BHK residences, with a total saleable area of approximately 5 lakh square feet and an estimated revenue potential of over Rs 3.5 billion. The project is expected to be developed over a span of more than three years.  Strategically located near the Bommasandra Metro stat..

Next Story
Resources

India Warehousing Show 2025 Closes with Strong Global Presence

The 14th edition of the India Warehousing Show (IWS) 2025 concluded successfully at Yashobhoomi (IICC), Dwarka, drawing participation from over 300 exhibitors across 15 countries and welcoming 15,000+ visitors. Recognised as India’s leading platform for warehousing and logistics excellence, IWS 2025 offered a comprehensive display of cutting-edge automation, sustainable warehousing solutions, and next-gen supply chain technologies. The show was inaugurated by Shri Pankaj Kumar, Joint Secretary – Logistics, DPIIT, Ministry of Commerce and Industry, Government of India. In his opening a..

Next Story
Equipment

MHIET Launches 450kW Gas Cogeneration System with H₂ Co-Firing

Mitsubishi Heavy Industries Engine & Turbocharger (MHIET), part of the Mitsubishi Heavy Industries Group, has launched a new 450kW gas cogeneration system, the SGP M450, jointly developed with Toho Gas Co.,. The system supports hydrogen co-firing at up to 15 vol per cent, with no loss in performance or reliability.  The system is currently available in the Japanese market, and has been developed from the existing GS6R2 city gas engine platform. Key modifications were made to the fuel gas and engine control systems to enable hydrogen co-firing.   Verified through de..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?