NEW DELHI, Jan 13: Indian real estate sector saw more land deals in 2024 at over 2,200 acres as developers were looking to expand the business, according to CBRE.
Real estate consultant CBRE data showed that land deals of more than 2,200 acres last year as against about 1,900 acres in the preceding year.
Out of the total land transactions in 2024, around 2,000 acres were located in the eight major cities — Delhi-NCR, Bengaluru, Mumbai, Chennai, Pune, Hyderabad, Kolkata and Ahmedabad.
Nearly 1,200 acres of land are meant for residential projects, around 580 acres for industrial & warehousing parks and 200 acres for data centres.
Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE, said, “The significant growth in land deals across diverse asset classes highlights strong investor confidence in India’s real estate market.”
The residential segment is booming due to rising urbanisation, favourable policies, and increased affordability, he added.
“Simultaneously, the growth in data centres and office spaces underscores India’s role as a hub for digital and corporate infrastructure,” Magazine said.
The report mentioned that Delhi-NCR emerged as the frontrunner, recording almost 40 land deals, out of around 135 in the top eight cities.
Gaurav Gupta, General Secretary of CREDAI NCR, said, “With its strategic location and infrastructural development, NCR will witness even more investment and development. As the region continues to grow, we expect even more land deals to come through, drawing both domestic and international investors eager to make the most of the immense growth potential that lies ahead.”
Gurugram-based property consultant VS Realtors founder and CEO Vijay Harsh Jha said the developers are acquiring land aggressively in Delhi-NCR to come up with more housing projects as demand would rise in coming years.
Improvement in Infrastructure across NCR, like Dwarka Expressway, is fuelling demand, he added. (PTI)
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