Delhi-NCR's real estate market remained a hotspot for land transactions in FY-24, with a significant increase compared to the previous year, according to data from ANAROCK Property Consultants. The report highlights a rise in land deals for various sectors, indicating continued growth in the region's development.
Key findings from the report include:
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A total of 29 land deals were finalized in FY-24, covering approximately 314 acres, compared to 23 deals for 273.9 acres in FY-23. This represents an 18% increase in land deal activity.
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Residential development continues to be a major driver, with roughly 26 deals totaling 298 acres planned for housing and township projects. This caters to the rising demand for housing and urban development in the region.
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There is a growing focus on commercial real estate as well, with at least two land deals exceeding 7 acres each specifically designated for such projects.
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An interesting trend is the emergence of land deals dedicated to educational purposes. The report mentions a single deal involving approximately 8.61 acres for an education-related project.
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Gurugram emerged as the leader in terms of land deals, with a significant 22 deals totaling 208.22 acres. These deals included projects for residential, educational, retail, and commercial purposes.
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Other cities in the NCR that witnessed land deals include Delhi (one deal for 5 acres), Faridabad (15 acres), Greater Noida (8.9 acres), Ghaziabad (62.5 acres for a township project), and Noida (three deals for a combined 13.96 acres).
This report by ANAROCK Property Consultants suggests a thriving real estate market in Delhi-NCR, with land transactions on the rise across various sectors. The data indicates a growing demand for housing, commercial spaces, and educational facilities, highlighting the region's potential for continued development.