Mumbai Metropolitan Region Tops Land Deals for Housing Projects

Real estate developers in India sealed 45 separate land deals for more than 1,757 acres across the top seven cities between the third quarter of 2020 and November 2021, according to real estate consulting group Anarock. Of the total transacted land area, approximately 69% or 1,205 acres has been proposed to be developed into multiple residential projects across these cities. Mumbai Metropolitan Region has the largest share in total land transactions for residential development at 64%, while NCR comes second on the list with a 12% share. NCs share is dominated by Gurugram (77 acres) and Noida (73acres), according to Anarock. Land-starved MMR saw 11 land deals involving 768 acres of area. NCR came a distant second with 4 separate deals accounting for 12% of the total land deals with This includes 3 deals for a total of 77 acres in Gurugram, and one deal forover 73 acres in Noida. saw two separate deals forever 92 acres of land on a joint development agreement (JDA) basis. Hyderabad witnessed two separate land deals for a total of 78 acres. Bengaluru saw 5 separate deals for a total of 59 acres earmarked for residential development, Pune saw 3 deals for approx. 42 acres, and Chennai saw 1deal for 16+ acres Developers including M3M Group, Godrej Properties, K Raheja Corp., and were the top land buyers last year, even as the Covid-19 pandemic dented economic growth. In all, 28 residential land deals were closed across the cities in the last year. The total development potential of these deals works out to at least 45-50 million sq. ft. of residential area.