NEW DELHI: The land deal volume in India surged by about 47% year-on-year, reaching more than 2,000 acres across eight cities in 2024, according to a report by CBRE.
During 2024, nearly 135 land deals were closed compared to about 90 in 2023, primarily concentrated in major metropolitan areas such as Delhi-NCR, Bengaluru, Mumbai, Chennai, and Pune.
Anshuman Magazine, chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE said, “The residential segment is booming due to rising urbanization, favourable policies, and increased affordability. Simultaneously, the growth in data centers and office spaces underscores India’s role as a hub for digital and corporate infrastructure. This momentum positions India as a leading market for real estate investments in 2024.”
Delhi-NCR is on the top with approximately 40 land deals, with Gurugram accounting for a significant share (>60%), followed by Noida/Greater Noida (∼25%).
Bengaluru recorded nearly 30 land transactions, followed by Mumbai and Chennai, which contributed approximately 25 and 15.
Deals in residential assets contributed more than 60% of the total volume (∼1,190 acres) and recorded a ~70% increase compared to 2023. Both the retail and office segments each contributed ~5% share. Other segments, such as mixed-use, hospitals, etc., accounted for ~15% of the total volume, showcasing diversification in asset preferences.
