Blitz Bureau
NEW DELHI: India saw more than 54 new land deals for over 1,045 acres in the real estate sector in the first half of this year, against 46 deals for nearly 950 acres in H1 2023, a report showed on July 21.
In the April-June period (Q2), the number of land deals closed, was 25 for over 325 acres, according to latest Anarock data.
Bengaluru led with nine new land deals for 114 acres in Q2 2024, followed by Gurugram with seven deals for 77.5 acres.
According to Dr Prashant Thakur, Regional Director and Head-Research & Advisory, Anarock Group, all deals in Bengaluru are proposed for residential developments. Gurugram followed, remaining a hot market for land deals in Q2 2024. “As many as seven deals for over 77.5 acres were closed here in this period for residential development and agriculture,” Thakur informed.
Of the total land deals closed in Q2 2024, over 17 for more than 163 acres have been proposed for residential developments. Agriculture, mixed-use development, data centres, logistics parks, industrial, and retail saw one deal each.
Thakur said, “The demand has been soaring here in the last couple of years, and developers are able to sell units in new projects very quickly post launch,”
