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Mumbai Metropolitan Region leads in land deal sizes, 607 acres across 30 deals transacted in 2024

Jan 19, 2025 07:05 PM IST

In total, the Mumbai Metropolitan Region reported 30 land deals in 2024 out of a total of 133 across the country.

133 land deals measuring 2,515 acres closed across the country in 2024, of which 30 deals of 607 acres were closed in the Mumbai Metropolitan Region, according to the data shared by ANAROCK, a real estate consultancy firm.

133 land deals measuring 2,515 acres closed across the country in 2024, of which 30 land deals of 607 acres were closed in the Mumbai Metropolitan Region. (Picture for representational purposes only)(Pixabay)

To name a few prominent land deals in Mumbai, Adani Realty acquired 24 acres in Mumbai, with a revenue potential of over 8,000 crore. Century Real Estate (Aditya Birla Real Estate) acquired 10 acres in Mumbai, with a potential of over 11,000 crore, ANAROCK data reveals.

Mahindra Lifespace also acquired 37 acres of land in Mumbai for a joint development project, according to the data shared by ANAROCK.

Also Read: Mumbai real estate market in 2024: Here are the top 5 land deals worth more than 2,500 crore

MMR saw the highest land area transacted

According to the ANAROCK data, MMR saw the highest land area transacted, over 607 acres in 30 separate deals, followed by Delhi NCR, which transacted over 417 acres of land across 38 separate deals, and Bengaluru, transacted over 307 acres in 26 separate land deals.

Among tier 2 and tier 3 cities, Surat and Nagpur saw the highest land area transacted in 2024. Surat transacted 300 acres of land in one land deal, followed by Nagpur, which transacted 100 acres in one single land deal. Other tier-2 cities include Ahmedabad, which transacted the highest number of three land deals, totaling over 44 acres.

Also Read: Mumbai real estate land deal: K Raheja Corp to acquire 5.75 acres for 466 crore in Kandivali

In 2023, 97 land deals measuring over 2,707 acres were closed in India. In 2023 and 2024 together, 230 deals for 5,222+ acres were closed in India.

“At least 133 separate land deals for over 2,515 acres closed in 2024 across the country. Backed by strong Pan India residential sales momentum, at least 77% of the total land area acquired in 2024 is earmarked for various residential developments. In 2023, 2707+ acres in about 97 land deals changed hands across the country. The last two years saw at least 230 land deals for a whopping 5,222+ acres," said Anuj Puri, Chairman – ANAROCK Group.

Also Read: Land deals surge by around 47% Y-o-Y, recording around 135 transactions in CY 2024

ANAROCK, in the report, also attributed the land deal to factors like financially strong developers and strong demand from homebuyers, which fuel land deals in the Indian real estate market.

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