New Delhi: Real estate developers are aggressively looking to increase and expand their business with improvement in demand, due to rapid increases of land deals over three-fold eight cities from January-September 2022 in this year, as per Anarock (Property consultant).
According to Anarock, reports of land transactions include both JDAs (joint development agreements) and outright purchases by developers.
It is said that 1656 acres of land deal closed in the first nine months of 2022 and comprised 68 separate deals across the top eight cities in India. It is far more than the last year, with only 20 deals that account for 925 acres.
Out of the 68 deals from January to September 2022, as many as nine were joint development agreements based on revenue sharing. The remaining land deals were entirely purchased.
Land, the most precious finite resource amid rapid urbanization, has been seeing increased activity after the COVID-19 pandemic, Anarock noted.
Increasing Housing Demand
Due to increasing housing demand compared to 2020 and 2021, all major real estate companies like Godrej Properties, Macrotech Developers, and Prestige Estates are buying the whole land and looking for a partnership with landlords.
Santhosh Kumar, Vice Chairman of Anarock Group, said
Santhosh Kumar, Vice Chairman of Anarock Group, said that in terms of land deal transacted in 2022, Hyderabad had seen the most significant land transactions over the eight cities.
He added that according to the total deals reports, Mumbai Metropolitan Region (MMR) accounts for the highest number of land deals among eight cities.
Between January and September of this year, there were 40 land deals, and it consists of 590.54 acres for the development of residential projects. Also, four land deals were for logistics parks and industrial development covering up to 147 acres.
About 118 acres of land deals were struck due to the construction of data centers.
About four transactions that consist of 25.7 acres of land were struck due to commercial properties. Even 115 acres of land were hit for mixed-use projects.
Eleven land deal, consisting of 658.94 acres, were used to develop real estate assets and retail units.
Delhi-NCR real estate market consists of 16 land deals
During January-September 2022, among the three-fold eight cities, the Delhi-NCR real estate market consists of 16 land deals comprising 233.8 acres of land.
This 16-acre land deal included seven deals in Delhi, Noida, and Faridabad. It comprises 197 acres in Gurugram.
Mumbai Metropolitan Region (MMR)
The Mumbai Metropolitan Region (MMR) had witnessed the highest, with 17 land deal accounting for 198.7 acres.
There were nine land deals in Bengaluru, which consisted of 223.2 acres of land. And there were seven deals in Hyderabad, and the total land area was high at 769.25 acres.
In Pune, eight deals account for 123.7 acres, while Chennai saw seven deals for 92.21 acres. At the same time, Kolkata has only one land deal at 5.6 acres.
During the first eight months of 2022, Ahmedabad saw three deals account for 9.6 acres.
After the breakdown of the Covid Pandemic, housing was demanded. So, the developers or builders are looking to launch more projects.
Between January and September 2022, housing sales across seven significant cities increased to 2,72,709 units compared to 1,45,651 units last year. As per the data of Anarock.
Between January-September, 2,61,358 units were sold compared to the entire year of 2019.
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