Real Estate

59 Land Deals for 2,018+ Acres Closed Across India in 2023 YTD

Land deals in India 2023 in top 7 cities

In contrast, the Jan-Aug. period of 2022 saw closure of 50 land deals over 1,438+ acres across cities in India

  • Of total land deals in India in 2023 (Jan-Aug.), 5 deals over 1,136+ acres proposed for township development, one deal for 300+ acres for manufacturing, 38 deals for 283+ acres for residential development, 154 acres for plotted developments, 62+ acres for mixed-use development, among others
  • MMR tops no. of land deals (17), NCR next with 13 deals in the period – but land parcels are small at 95+ acres & approx. 90 acres, respectively
  • Ahmedabad saw just 3 land deals – but for large land parcel covering approx. 740 acres

Mumbai 21 August 2023: Buoyed by growing demand in the post-Covid world across various sectors of Indian real estate, developers and some business entities are coming forward to purchase land across cities.

“Latest ANAROCK Research indicates that as many as 59 separate land deals for 2018+ acres have been closed across the India between January to August 2023,” says Anuj Puri, Chairman – ANAROCK Group. “In the corresponding period last year, about 50 land deals for 1,438+ acres were closed across various cities.”

“However, very few of these deals were for large land parcels,” says Puri. “The three largest were in Ahmedabad, for approx. 740 acres, and one deal each in Ludhiana and Bengaluru for 300+ acres each. In terms of deal numbers, residential real estate drew the highest.”

  • Of 59 land deals closed in 2023 (Jan-Aug), approx 38 deals for 283+ acres are proposed for residential development across the top 7 cities in India
  • 5 deals for 1,136+ acres are earmarked for township projects in cities like Chennai, Ahmedabad and Ludhiana
  • 4 deals for 62+ acres are for mixed-use developments in Noida, Gurugram, Pune and Bengaluru
  • 3 separate land deals for over 154 acres are for plotted developments in cities like Chennai, Raigad and Gurugram 
  • 3 deals for approx. 16.5 acres are for commercial development in NCR cities like Delhi, Noida and Gurugram
  • One large deal over 300 acres has been earmarked for manufacturing in Bengaluru.
Proposed DevelopmentArea (acres)No. of DealsCity
Commercial16.53Delhi, Noida, Gurugram
Industrial381Sanand, Gujarat
IT Park71Chennai
Mixed-Use62.164Noida, Bengaluru, Gurugram & Pune
Plotted Development1543Gurugram, Raigad, Chennai
Residential283.0638Top 7 Cities
Residential + Retail8.351Gurugram
Township Project1136.335Chennai, Ahmedabad & Ludhiana
Not yet Decided7.441Kolkata
Source: ANAROCK Research

Total Land Deals in India 2023 YTD

In terms of total land area transacted, Ahmedabad stood out with approx. 740 acres transacted so far this year. At 17 deals, MMR saw the highest number; the total area transacted was just 95+ acres.

Top Land Deals Across Cities in India 2023
Deal in QuarterBuyerCityApprox. Size (in Acres)Approx. Value (INR-crore)Proposed Development
Q1-2023Godrej PropertiesChennai60100Plotted Development
Q1-2023Supreme UniversalMumbai5311Residential
Q1-2023CRC GroupNoida11.16138Mixed Use
Q1-2023Max EstateGurgaon11.8JDAResidential
Q1-2023Arogya Bharati HospitalsMumbai23540Residential
Q2-2023VTP RealtyPune6.7260Residential
Q2-2023Ajmera RealtyMumbai1.2476Residential
Q2-2023Birla EstatesBengaluru28.6 –Residential
Q2-2023Ganga RealtyGurgaon8.35132Residential & Retail
Q2-2023Adani InfrastructureAhmedabad35.83325Township Project
July-Aug.-2023Godrej PropertiesGurgaon7.91900Residential
July-Aug.-2023ArvindSmartspaceAhmedabad500JDATownship Project
July-Aug.-2023RajpushpaProperties Pvt LtdHyderabad3.6362Residential
July-Aug.-2023UK’s Malhotra groupLudhiana300150Township Project
Source: ANAROCK Research
  • Hyderabad saw 2 separate deals for 18+ acres, accounting for just 1% of the total land transacted between January and August 2023.
  • NCR sealed 13 separate transactions accounting for 4% of the total land transacted, for approx. 89.82 acres. This includes 9 deals for a total of 61.6 acres in Gurugram, 3 in Noida for 19+ acres, and one in Delhi for approx. 9 acres. The proposed developments include residential, retail, mixed-use, commercial, and plotted development.
  • Bengaluru saw 8 separate deals for 401+ acres, accounting for 20% of total land transacted, earmarked for manufacturing, residential, and mixed-use.
  • Pune saw 5 separate deals for approx. 44 acres, accounting for just 2% of the total land area transacted across cities, proposed for residential and mixed-use development.
  • MMR saw the highest number of transactions (17) cumulatively accounting for just 95+ acres, earmarked for residential development.
  • Chennai saw 5 deals for approx. 178 acres, earmarked for plotted developments, residential, an IT park, and a township project.
  • Ahmedabad closed 3 deals over 740 acres – accounting for the highest share (37%) of total land transactions in the country
  • Kolkata closed 3 land deals for approx. 25 acres.
CitiesLand Area (Acres)No. of Deals
Sanand, Gujarat381
Source: ANAROCK Research

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