Delhi-NCR saw 29 land deals for approximately 314 acres closed in FY-24; Gurugram leads with 22 land deals

In Gurugram 22 deals totaling 208.22 acres were closed of which 20 deals were exclusively for residential purpose

Published on: Apr 24, 2024, 11:40:06 IST

By HT News Desk

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Delhi-NCR saw 29 land deals spread across 314 acres closed in FY 2024 as against 23 land deals covering approximately 273.9 acres in FY 2023, data shared by Anarock shows.

In Gurugram 22 land deals totaling 208.22 acres were closed. These included one deal each for educational, residential, and retail purposes, while the remaining 20 deals were exclusively for residential development. (Parveen Kumar/HT Photo (Representational))

Among the top cities, NCR clocked 29 land deals for more than 313 acres, followed by MMR with 19 land deals for approximately more than 157 acres, it showed.

Also Read: More than 101 land deals for approximately 2,989 acres closed in FY-24 across cities, including Ayodhya

In Delhi, one deal covering 5 acres was closed for residential development. In Gurugram 22 deals totaling 208.22 acres were closed. These included one deal each for educational, residential, and retail purposes, while the remaining 20 deals were exclusively for residential development. In Faridabad, a 15-acre land deal was finalized for residential purposes.

In Greater Noida, a 8.9-acre deal was secured for residential development. In Ghaziabad, a 62.5-acre deal was signed for a township project. Noida closed three separate deals, covering a combined area of 13.96 acres, for both residential and commercial developments.

Also Read: At least 97 land deals for more than 2700 acres closed across the country in 2023

“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,” said Santhosh Kumar, Vice Chairman – ANAROCK Group.

“At least two land deals, spanning over 7 acres each, were planned specifically for commercial real estate projects. A separate deal involving approximately 8.61 acres was dedicated to an education-related project,” he said.

Also Read: Kansai Nerolac sells 4.13 acre Lower Parel plot for ₹726 cr

Real estate developers and entities sealed approximately 101 separate land deals in fiscal year 2023-24, cumulatively accounting for nearly 2,989 acres across the country, according to data shared by Anarock.

In FY-24, over 83 land deals for over 1,135 acres closed in top seven cities alone, remaining 18 deals over 1,853 acres in tier 2 and 3 cities, including Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.

Also Read: Godrej Properties wins bid for group housing plot for ₹506 crore in Sector 44, Noida

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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