According to data from Anarock, land deals in FY 2024, Gurugram saw the closure of 22 land deals totaling 208.22 acres. Among these, 20 deals were exclusively for residential purposes. In comparison, Delhi-NCR witnessed 29 land deals covering 314 acres, an increase from the 23 deals and 273.9 acres recorded in FY 2023.
The breakdown of land deals in FY 2024 in Gurugram included one deal each for educational, residential, and retail purposes, with the remaining 20 deals earmarked solely for residential development. In the NCR region, there were 29 land deals totaling over 313 acres, making it the top-performing region. Following closely was the Mumbai Metropolitan Region (MMR) with 19 land deals spanning more than 157 acres.
Delhi recorded one deal covering 5 acres for residential development, while Faridabad finalized a 15-acre land deal for residential purposes. Greater Noida secured an 8.9-acre deal for residential development, and Ghaziabad signed a 62.5-acre deal for a township project. Noida closed three separate deals, covering a combined area of 13.96 acres, for both residential and commercial developments.
Santhosh Kumar, Vice Chairman of the ANAROCK Group, stated, “About 26 separate land deals, totaling approximately 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development.” He also mentioned plans for two commercial real estate projects, each spanning over 7 acres, and an 8.61-acre deal dedicated to an education-related project.
In fiscal year 2023-24, real estate developers and entities sealed approximately 101 separate land deals, covering nearly 2,989 acres across the country. Among these, over 83 land deals for over 1,135 acres closed in the top seven cities, with the remaining 18 deals spanning over 1,853 acres in tier 2 and 3 cities, including Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.
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