Developers log land purchases worth mn in last 17 months
Real Estate

Developers log land purchases worth mn in last 17 months

Real estate developers have acquired around 2,181, acres of land in the last 17 months (January 22 – May 2023) valued at over 260,000 mn, with an estimated development potential of around 209 million square feet in 104 deals, according to real estate consultant JLL. Around 578 acres was acquired in the first five months of the calendar year 2023. JLL data indicates that branded developers have successfully closed many transactions in top metropolitan cities as well as tier 2 and 3 cities.

According to JLL, Delhi NCR, Chennai, Mumbai Metropolitan Region and Bengaluru lead in terms of total land area transacted accounting for 72 per cent share (around 1,576 acres) having a development potential of around 150 million square feet in 79 separate land deals. Pune,Kolkata and Hyderabad together account for 9 per cent share. The rest was contributed by cities like Surat, Ahmedabad, Jaipur, Lucknow, Nagpur, Panchkula, and Kurukshetra.

With a combined share of 73% of the land transactions in Delhi NCR over the last 17 months, the submarkets of Panipat and Gurgaon are in the lead.

Delhi NCR and Mumbai Metropolitan Region are in first place in terms of transactions, with 53 transactions total in the previous 17 months, according to the research.

Real estate developers have acquired around 2,181, acres of land in the last 17 months (January 22 – May 2023) valued at over 260,000 mn, with an estimated development potential of around 209 million square feet in 104 deals, according to real estate consultant JLL. Around 578 acres was acquired in the first five months of the calendar year 2023. JLL data indicates that branded developers have successfully closed many transactions in top metropolitan cities as well as tier 2 and 3 cities. According to JLL, Delhi NCR, Chennai, Mumbai Metropolitan Region and Bengaluru lead in terms of total land area transacted accounting for 72 per cent share (around 1,576 acres) having a development potential of around 150 million square feet in 79 separate land deals. Pune,Kolkata and Hyderabad together account for 9 per cent share. The rest was contributed by cities like Surat, Ahmedabad, Jaipur, Lucknow, Nagpur, Panchkula, and Kurukshetra. With a combined share of 73% of the land transactions in Delhi NCR over the last 17 months, the submarkets of Panipat and Gurgaon are in the lead. Delhi NCR and Mumbai Metropolitan Region are in first place in terms of transactions, with 53 transactions total in the previous 17 months, according to the research.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?