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Land deals slow to 76 in 9M 2026 as real estate developers turn selective; joint development agreements account for one in four deals: Anarock
While developers continue to buy land in metros, some of the largest deals are shifting to tier 2 and 3 cities, including a 714-acre acquisition in Coimbatore
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Land acquisitions moderated in the first nine months of 2026 (9M 2026), with developers becoming more selective about parcel size, location and project feasibility, while partnership-led models gained traction. According to Anarock Research & Advisory, the period recorded 76 deals covering approximately 1,445 acres, down from 99 deals spanning 3,292 acres in the corresponding period last year.
Joint development agreements (JDAs) accounted for one in every four land transactions during the period. Of the 76 deals recorded in 9M 2026, at least 19 were structured as JDAs, indicating developers' growing preference for accessing land through partnerships rather than outright purchases.
The trend reflects a more cautious approach to expansion amid rising land costs and increasing emphasis on project viability, the data showed.
The number of JDA transactions rose from 10 in 2022 to 30 in 2025, while their share of total land deals increased from around 12% in 2022 to nearly 24% in 2025 and further to 25% in 9M 2026.
Large land transactions of 50 acres or more also declined sharply. Their number fell from 12 in 9M 2025 to just five in 9M 2026, while the combined acreage dropped from approximately 2,398 acres to 588 acres.
Between 2022 and 9M 2026, a total of 516 land deals covering approximately 12,958 acres were recorded across the country. While 2024 saw the highest number of transactions, at 133 deals spanning more than 2,515 acres, 2025 recorded the largest cumulative acreage, with 126 deals covering approximately 3,772 acres.
"The first nine months of 2026 saw 76 land deals for around 1,445 acres, signalling a more cautious and selective acquisition strategy," said Mayank Saksena, MD and CEO, Land Services, Anarock Group.
"With project economics becoming more important, developers are increasingly turning to JDAs with existing landowners. Under a JDA arrangement, developers can access land and undertake projects through a partnership rather than an outright purchase," he said.
Tier 2 and tier 3 cities gain traction in large land deals
While developers continue to acquire land in established metropolitan markets, some of the largest land parcels are increasingly being transacted in tier 2 and tier 3 cities, pointing to growing interest in emerging markets.
The largest individual transactions tracked during the period included a 714-acre deal in Coimbatore, a 600-acre deal in Hyderabad and two deals in Ahmedabad covering 500 acres and 440 acres, respectively. Such large transactions can significantly influence a city's overall acquisition figures.
Between 2022 and 9M 2026, the Mumbai Metropolitan Region (MMR) led land acquisitions with approximately 2,798 acres, followed by the National Capital Region (NCR) with 2,012 acres and Bengaluru with 1,679 acres.
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The seven established metropolitan markets, MMR, NCR, Bengaluru, Hyderabad, Pune, Chennai and Kolkata, accounted for approximately 86% of the 516 land deals recorded during the period, but only around 57% of the total 12,958 acres acquired. This indicates that while smaller and mid-sized transactions remain concentrated in established markets, larger parcels are increasingly being acquired in smaller cities.
The trend is particularly evident in big-ticket transactions. The 61 deals involving 50 acres or more accounted for approximately 63% of the total acreage acquired, with nearly half of these transactions (29) taking place outside the seven established metropolitan markets.
Gujarat emerged as the strongest market for large land deals, with Ahmedabad, Surat and Vadodara together accounting for approximately 2,020 acres, or nearly 16% of the total tracked acreage. Coimbatore, with around 770 acres, along with Amritsar, Nagpur, Panipat and Ludhiana, also featured among the top 12 markets in terms of cumulative land acquisitions, despite recording relatively few transactions.
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"That pattern is clearest in big-ticket deals. The 61 transactions of 50 acres or more accounted for about 63% of all acreage, and nearly half of them (29) were outside the seven established metros," Saksena said.
He added that Gujarat was the strongest market for such transactions, with Ahmedabad, Surat and Vadodara together accounting for approximately 2,020 acres.
