Listen To The Article
Twenty of the 22 finalized land acquisitions in Gurugram, totaling 208.22 acres, were only for residential use. According to statistics provided by Anarock, the Delhi-NCR saw the closing of 29 property sales totaling 314 acres in FY 2024 as opposed to 23 land deals totaling around 273.9 acres in FY 2023.
According to the data, NCR led the list of major cities with 29 land deals totaling more than 313 acres, followed by MMR with 19 land sales totaling around 157 acres.
Totaling 210 Acres Land Deals Were Completed In Gurugram
One transaction for the development of five acres of residential space in Delhi was closed. 22 transactions totaling 208.22 acres were completed in Gurugram.
The remaining twenty transactions were all for residential construction, with one contract apiece for retail, residential, and educational uses. A 15-acre property purchase for residential use was concluded in Faridabad.
298 Acres Were Proposed For Residential Projects To Meet Growing Demand
An 8.9-acre agreement was acquired for residential construction in Greater Noida. A 62.5-acre agreement was inked for a township project in Ghaziabad. Noida finalized three distinct agreements for residential and commercial constructions, totaling 13.96 acres of land.
According to Santhosh Kumar, Vice Chairman of ANAROCK Group, “about 26 separate land deals, totaling approximately 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development.”
18 Land Sales Totaling 1,853 Acres Were Completed In Tier 2 And Tier 3 Cities
At least two property acquisitions, totaling more than seven acres each, were especially planned for commercial real estate developments. An education-related project was the focus of a different transaction that involved around 8.61 acres, he added.
According to statistics provided by Anarock, real estate developers and companies closed around 101 different land deals in fiscal year 2023–24, totaling almost 2,989 acres across the nation.
18 land sales totaling 1,853 acres were completed in tier 2 and tier 3 cities, including Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat. In FY-24, over 83 land deals totaling over 1,135 acres were done in the top seven cities alone.
Source-HT
