Land Deals in India Rise 47% Y-o-Y Across 8 Cities in 2024: Report

14 Jan 2025 CW Team

The volume of land deals in India witnessed a significant surge of around 47 per cent year-on-year, exceeding 2,000 acres across eight cities in 2024, as reported by CBRE.

In 2024, nearly 135 land deals were finalised, compared to about 90 in 2023, with the majority concentrated in key metropolitan areas like Delhi-NCR, Bengaluru, Mumbai, Chennai, and Pune.

Anshuman Magazine, Chairman & CEO of CBRE for India, South-East Asia, the Middle East, and Africa, remarked that the residential sector is flourishing due to increasing urbanisation, favourable policies, and enhanced affordability. He also highlighted that the growth of data centres and office spaces underscores India's position as a central hub for digital and corporate infrastructure. He noted that this momentum is setting India up as a prominent market for real estate investments in 2024.

Delhi-NCR emerged as the leading region, accounting for approximately 40 land deals, with Gurugram contributing more than 60 per cent of the deals, followed by Noida/Greater Noida at around 25 per cent. Bengaluru recorded nearly 30 land transactions, while Mumbai and Chennai contributed approximately 25 and 15, respectively.

Residential assets made up more than 60 per cent of the total land deal volume (around 1,190 acres), marking a ~70 per cent increase compared to 2023. Both the retail and office sectors contributed about 5 per cent each. Other segments, including mixed-use developments and hospitals, accounted for approximately 15 per cent of the total volume, highlighting the diversification in asset preferences.

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