NEW DELHI: The land deal volume in India surged by 65% year on year, reaching 1,700 acres dominated by six cities i.e. Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru, Pune, in the first nine months of 2024, according to a report by CBRE South Asia.
During this period, over 100 land deals were closed, up from over 60 deals during the same period last year.
Anshuman Magazine, chairman and CEO of India, South-East Asia, Middle East & Africa, of the company said, “As we witness strong growth in both established segments including residential, office and emerging categories such as data centers, indicates that investors are increasingly confident in the long-term potential of India’s real estate sector. This optimism positions India as a strategic market for real estate investments.”
In January to September this year, Delhi-NCR led land deal activity with approximately 32% share, with Gurugram accounting for the highest land deal share at 65% and Noida and Greater Noida at 20%. This represents a 65% year-on-year increase in the number of deals compared to the same period last year.
This is followed by Bengaluru, Mumbai and Chennai with 22%, 12% and 10% share, respectively.
These four cities have a combined share of 75% of the overall land deal volumes in January to September 24.
