Mumbai Metropolitan Region Dominates Land Deals in 2024, Transactions Exceed 607 Acres
In 2024, the Mumbai Metropolitan Region (MMR) recorded 30 significant land deals, totaling 607 acres, out of a national total of 133 deals.
Mumbai Metropolitan RegionLand DealsReal EstateAnarockResidential DevelopmentReal Estate NewsJan 19, 2025
This represents a significant portion of the 133 land deals and 2,515 acres transacted across the country, as reported by ANAROCK, a leading real estate consultancy firm.
Among the notable deals in MMR, Adani Realty acquired 24 acres of land in Mumbai, with a projected revenue potential of over ₹8,000 crore.
Century Real Estate, a subsidiary of Aditya Birla Real Estate, secured 10 acres, anticipating a potential revenue of over ₹11,000 crore.
Mahindra Lifespace also made a significant acquisition, securing 37 acres for a joint development project.
The MMR's dominance in land transactions is further highlighted by the fact that it saw the highest land area transacted, followed by Delhi NCR, which transacted 417 acres across 38 deals.
Bengaluru came third with 307 acres transacted in 26 deals.
Among tier 2 and tier 3 cities, Surat and Nagpur led the way.
Surat recorded the largest single land deal of 300 acres, while Nagpur saw a substantial transaction of 100 acres.
Other tier-2 cities like Ahmedabad also showed activity, with three land deals totaling 44 acres.
The robust performance in 2024 comes on the heels of a strong 2023, where 97 land deals measuring 2,707 acres were completed across the country.
Together, 2023 and 2024 saw 230 deals for a total of 5,222 acres.
According to Anuj Puri, Chairman of ANAROCK Group, the strong residential sales momentum across India has been a key driver of these land acquisitions.
At least 77% of the total land area acquired in 2024 is earmarked for residential developments.
ANAROCK attributes the increase in land deals to several factors, including the financial strength of developers and robust demand from homebuyers.
These factors have collectively fueled the Indian real estate market, leading to a significant year for land transactions.
Frequently Asked Questions
How many land deals were recorded in the Mumbai Metropolitan Region in 2024?
The Mumbai Metropolitan Region (MMR) recorded 30 significant land deals in 2024, totaling 607 acres.
Which companies made notable land acquisitions in MMR in 2024?
Notable companies that made significant land acquisitions in MMR in 2024 include Adani Realty, Century Real Estate (Aditya Birla Real Estate), and Mahindra Lifespace.
Which tier 2 cities saw the highest land area transacted in 2024?
Surat and Nagpur saw the highest land area transacted in 2024 among tier 2 cities, with Surat recording a 300-acre deal and Nagpur a 100-acre deal.
What factors are driving the increase in land deals in the Indian real estate market?
The increase in land deals in the Indian real estate market is driven by factors such as the financial strength of developers and robust demand from homebuyers, leading to strong residential sales momentum.
What percentage of the total land area acquired in 2024 is earmarked for residential developments?
At least 77% of the total land area acquired in 2024 is earmarked for various residential developments.
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