Indian Real Estate Sees Surge in Land Deals: Bengaluru Tops the List
India witnessed a significant rise in land deals in H1 2024, with Bengaluru leading the pack. Get the latest insights on the Indian real estate sector.
Real EstateLand DealsIndiaBengaluruAnarock GroupReal EstateJul 21, 2024
In the second quarter of 2024, Bengaluru emerged as the frontrunner, with nine new land deals for 114 acres. All of these deals are proposed for residential developments, highlighting the growing demand for housing in the city. Gurugram followed closely, with seven deals for 77.5 acres, primarily for residential development and agriculture.
According to Dr. Prashant Thakur, Regional Director and Head-Research & Advisory at Anarock Group, the demand for land in Bengaluru has been soaring in recent years.
Frequently Asked Questions
How many land deals were closed in H1 2024 in India?
54 land deals for over 1,045 acres were closed in H1 2024 in India.
Which city led the list of land deals in Q2 2024?
Bengaluru led the list, with nine new land deals for 114 acres.
What is driving the demand for land in Bengaluru?
The demand for land in Bengaluru is driven by the ability of developers to sell units in new projects very quickly post-launch.
How many land deals were closed in Mumbai in Q2 2024?
Mumbai saw only two land deals closed in Q2 2024, one for industrial purposes and the other for retail development.
What are the emerging trends in the Indian real estate sector?
The Indian real estate sector is witnessing emerging trends such as mixed-use development, data centres, logistics parks, industrial, and retail projects.
Related News Articles
Godrej & Boyce divests two Mumbai office spaces to Godrej Industries for a substantial Rs 157 crore
Godrej & Boyce has sold two office spaces in Mumbai to Godrej Industries for a significant amount of Rs 157 crore
Macrotech Developers Witness 20% Surge in Q1 Sale Bookings to Rs 4,030 Crore
Real estate major Macrotech Developers has reported a significant 20% increase in sale bookings to Rs 4,030 crore in Q1, driven by robust housing demand.
Mumbai's Housing Market Projected to Reach New Heights in 2024
A recent report by JLL India reveals that Mumbai's housing sales are expected to exceed INR 1.35 lakh crore in 2024, driven by robust infrastructure development and changing consumer preferences.
Devendra Fadnavis Sworn in as Maharashtra's 21st Chief Minister; Shinde and Pawar as Deputies
Mumbai - Devendra Fadnavis was sworn in as the 21st Chief Minister of Maharashtra, with Ajit Pawar and Eknath Shinde taking the oath as Deputy Chief Ministers.
Tesla Set to Launch First Showroom in Mumbai’s Maker Maxity
Tesla, the leading electric vehicle manufacturer, is set to open its first showroom in Mumbai’s prestigious Maker Maxity at BKC, marking a significant step in the company’s expansion into the Indian market.
Adani Group Secures ₹36,000-Cr Motilal Nagar Redevelopment Project in Mumbai
Gautam Adani's Adani Group has won the prestigious ₹36,000-crore Motilal Nagar redevelopment project in Mumbai, further solidifying the conglomerate's dominance in the real estate sector.