Top 8 cities see 68 land deals in the first 9 months of 2022 | The Financial Express

Top 8 cities see 68 land deals in the first 9 months of 2022

Of the total land deals in 2022 (Jan-Sept.), nearly 40 deals over 590+ acres proposed for residential development, 147 acres for Industrial & Logistic Park and Warehouse, 119 acres for data centres, 115 for mixed-use development & 26 acres for commercial, among others.

Top 8 cities see 68 land deals in the first 9 months of 2022
NCR sealed 16 separate transactions accounting for 14% of the total land deals covering approx. 234 acres. This includes 9 deals for a total of 197 acres in Gurugram, and 7 in Delhi, Faridabad, and Noida.

Land, the most precious finite resource amid rapid urbanization, has been seeing increased action after the pandemic. Latest ANAROCK Research indicates that the top 8 cities closed at least 68 separate land deals accounting for 1,656 acres in the first nine months of 2022. In the corresponding period last year, just 20 land deals for 925 acres were closed across these cities.

With some of the larger deals, there is still ambiguity about the type of development that will take place there. For most other deals, developers and entities have already zeroed in on development purpose:

* Of 68 land deals closed in 2022 (Jan-Sept.), nearly 40 deals 590+ acres are proposed for residential development

* Over 147 acres in 4 separate deals are earmarked for industrial & logistics parks and warehousing

* 4 deals for over 119 acres are for data centres

* 5 separate land deals for over 115 acres are for mixed-use development 

* Approx. 26 acres in 4 separate deals are for commercial development

* Approx. 11 deals for over 659 acres are for miscellaneous purposes including retail and BPO and development; development purpose for a large portion of these deals is undecided

Also Read: Housing costs: Tips to reduce your rental expenses

City-wise Outlook

“In terms of land area transacted, Hyderabad has seen the biggest land transactions so far this year,” says Santhosh Kumar, Vice Chairman – ANAROCK Group. “In terms of total number of land deals, MMR clocked the highest number of deals; while the total area transacted was unspectacular, one must also consider the steep prices in this land-starved city.”

* Hyderabad saw 7 separate deals for 769+ acres, accounting for over 46% of the total land transacted between Jan-Sept.

* NCR sealed 16 separate transactions accounting for 14% of the total land deals covering approx. 234 acres. This includes 9 deals for a total of 197 acres in Gurugram, and 7 in Delhi, Faridabad, and Noida. The proposed developments include residential, retail, mixed-use, commercial, and warehousing

* Bengaluru saw 9 separate deals for a total of 223 acres earmarked for residential, mixed-use, and a logistics park

* Pune saw 8 separate deals for approx. 124 acres, accounting for 7% of the total land area transacted across these cities. All are proposed for residential development

* MMR saw the highest number of transactions cumulatively accounting for just 199 acres, earmarked for residential and logistics developments

* Chennai saw 7 deals for 92+ acres for a mixed-use development including residential, BPO and an industrial park

* Ahmedabad closed 3 deals for approx. 9.6 acres

* Kolkata closed 1 land deal for approx. 5.6 acres

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

First published on: 21-11-2022 at 13:05 IST