NCR Saw 29 Land Deals for Nearly 314 Acres Closed in FY-24: ANAROCK Report

New Delhi, April 24, 2024: Delhi-NCR continues to be a hotspot for real estate transactions across various sectors and as in the previous financial year, land deals have been a significant part of real estate development. ANAROCK data finds that in contrast to the 23 land deals covering approximately 273.9 acres in FY-23, FY-24 witnessed 29 land deals for approx. 314 acres.

“About 26 separate land deals, totaling approx. 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development,” says Santhosh Kumar, Vice Chairman – ANAROCK Group. “At least two land deals, spanning over 7 acres each, were planned specifically for commercial real estate projects. A separate deal involving approximately 8.61 acres was dedicated to an education-related project.”

City-Specific Deals:

• Delhi: One deal covering 5 acres was closed for residential development.
• Gurugram: Millennium City led the way with 22 deals, totaling 208.22 acres. These included one deal each for educational, residential, and retail purposes, while the remaining 20 deals were exclusively for residential development.
• Faridabad: A 15-acre land deal was finalized for residential purposes.
• Greater Noida: An 8.9-acre deal was secured for residential development.
• Ghaziabad: A substantial 62.5-acre deal was signed for a township project.
• Noida: Noida closed three separate deals, covering a combined area of 13.96 acres, for both residential and commercial developments.

Source: ANAROCK Research