Around 97 land transactions for over 2,700 acres were recorded in 2023, compared to 2,500 acres across 82 deals in the preceding year, according to Anarock Property Consultants.
The residential real estate market is booming, leading to increased land deals. Realty developers are actively acquiring land to capture sales momentum and build a robust supply pipeline. Land transactions in tier 1 cities, particularly in Mumbai Metropolitan Region (MMR), have significantly increased. Delhi NCR, Bengaluru, and Chennai are also witnessing land acquisitions.
A total of 97 land deals covering 2,707 acres were closed across India in 2023, up from 82 deals covering 2,508 acres the previous year. Around 72% of the land is expected to be used for residential development. Ahmedabad saw the largest land transaction and the highest land area transacted, while Bengaluru and the Mumbai Metropolitan Region (MMR) also had significant activity. Tier 2 and 3 cities also saw several land deals closed for various development purposes.
India News: Explore the real estate boom in Ayodhya with rising property prices and investment opportunities. Discover luxury villas, homestays, and hotels in the city. Plan your visit to the famous Ram temple and experience the transformation of Ayodhya.