Anarock has compiled the land transactions, which embrace each outright purchases by builders and in addition joint improvement agreements (JDAs). A minimum of 68 separate land offers, accounting for 1,656 acres, have been closed within the first 9 months of 2022 throughout high eight cities, as towards simply 20 land offers for 925 acres within the corresponding interval of final yr, it mentioned.
In line with property marketing consultant Anarock, actual property builders are aggressively trying to develop their enterprise with revival in demand, leading to a pointy rise within the variety of land offers which jumped over three-fold to 68 throughout eight main cities throughout January-September this yr.
“By way of land space transacted, Hyderabad has seen the largest land transactions to this point this yr,” mentioned Santhosh Kumar, Vice Chairman of Anarock Group. “By way of complete variety of land offers, MMR (Mumbai Metropolitan Area) clocked the best variety of offers; whereas the overall space transacted was unspectacular, one should additionally contemplate the steep costs on this land-starved metropolis,” he added.
Land, essentially the most valuable finite useful resource amid speedy urbanisation, has been seeing elevated motion after the COVID-19 pandemic, Anarock famous.
Out of the 68 offers in January-September interval of 2022, as many as 9 have been both JDAs or on income sharing foundation. The remaining offers have been outright buy.
For improvement of knowledge centres, 4 land offers have been struck for 118.8 acres.
5 offers for 115 acres of land have been struck for mixed-use initiatives and one other 4 transactions involving 25.73 acres for industrial initiatives.
Eleven land offers, comprising 658.94 acres, have been for improvement of retail and different actual property property.
With among the bigger offers, there’s nonetheless ambiguity about the kind of improvement that may happen there, the marketing consultant mentioned.
To encash the surge in housing demand in comparison with 2020 and 2021, all main actual property corporations like Macrotech Builders, Godrej Proerties and Status Estates are shopping for land parcels outright and in addition getting into into partnership with landlords.
Ahmedabad noticed three land offers comprising 9.6 acres throughout the first 9 months of this calendar yr.
Housing demand has revived strongly after the slowdown within the final two years due to the COVID-19 pandemic. So builders, particularly massive ones, want to launch extra initiatives.
As per the Anarock information, housing gross sales throughout seven main cities elevated to 2,72,709 models throughout January-September this yr from 1,45,651 models within the corresponding interval of the earlier yr.
Amongst cities, the Delhi-NCR property market noticed 16 land offers comprising 233.83 acres throughout January-September this yr.
This included 9 offers for a complete of 197 acres in Gurugram, and 7 in Delhi, Faridabad, and Noida.
The Mumbai Metropolitan Area witnessed 17 offers accounting for 198.62 acres.
Variety of land offers in Bengaluru stood at 9, comprising 223.2 acres.
Of the overall land offers throughout January-September of this yr, there have been 40 offers comprising 590.54 acres for improvement of residential initiatives, whereas 4 land offers have been for industrial and logistics parks protecting 147 acres.
In Hyderabad, there have been solely seven land offers however the complete space was excessive at 769.25 acres.
Pune witnessed eight land offers totalling 123.7 acres, whereas Chennai noticed seven offers totalling 92.21 acres.
Variety of land offers in Kolkata stood at just one at 5.6 acres.
The January-September determine of this calendar yr is larger than the two,61,358 models bought throughout your complete 2019 calendar yr.
(With PTI inputs)