The real estate segment in Delhi-NCR experienced a rise in land deals during Q1 2024. According to a recently released report by Anarock Property Consultants, the region witnessed 12 transactions covering a total land area of 160 acres. This highlights a growing interest in land acquisitions in Delhi-NCR. The report also reveals that the total land deals for the financial year 2023-24 amounted to nearly 3,000 acres in the region.
The study further elaborates on the specifics of these land transactions. Out of the total 12 deals, a majority were joint ventures (JVs) between developers and landowners. Additionally, a significant portion of the land deals were conducted through outright purchases. This indicates the strong appetite for land acquisitions and development projects in the Delhi-NCR real estate market.
The report also identifies some key locations where these land deals took place. Gurugram and Greater Noida were the top two cities in terms of land transactions, with each witnessing four deals. Moreover, out of the total land area covered in these 12 deals, Gurugram accounted for the highest share with 77 acres. This indicates the growing preference for these prime locations for real estate development.
The increasing trend of land acquisitions in Delhi-NCR can be attributed to several factors. Firstly, the region offers a lucrative market for real estate investments due to its rapidly growing population and robust economic activity. Additionally, the availability of large land parcels for development projects, as well as favorable government policies, makes it an attractive destination for developers and investors.
The report suggests that the ongoing pandemic has accelerated the demand for land as investors look for safe and stable investment opportunities. Amidst the uncertainties in other asset classes, real estate and land have emerged as preferred investment avenues. Furthermore, the growth of the IT and manufacturing sectors in Delhi-NCR has also contributed to the increased interest in land acquisitions.
Overall, the rising number of land deals in Delhi-NCR reflects the positive sentiment in the real estate market. Developers and investors are capitalizing on the available opportunities and leveraging the potential of the region. The trend is expected to continue in the coming months as more players enter the market and the demand for land and development projects remains strong.
For more information, please visit here.
