Land deals for 63.5 acres closed in Hyd in H1 of 2024
A total of 54 land deals for 1,045 acres were closed in the period across the country
image for illustrative purpose
The general elections and the heated land prices seem to have dented the appetite for land acquisition for developers and other entities in the second quarter of 2024 - Dr Prashant Thakur, Regional Director, Anarock Group
Hyderabad: The city saw three land deals for about 63.5 acres in the real estate sector in the first half of 2024, and one deal of 48 acres in second quarter of 2024, for proposed development of a Data Centre, a report said on Sunday.
India saw more than 54 new land deals for over 1,045 acres in H1 of this year, against 46 deals for nearly 950 acres in H1 2023. In the April-June period (Q2), the number of land deals closed, was 25 for over 325 acres, according to latest Anarock data.
Bengaluru led with nine new land deals for 114 acres in Q2 2024, followed by Gurugram with seven deals for 77.5 acres.
According to Dr Prashant Thakur, Regional Director and Head-Research Advisory, Anarock Group, the general elections and the heated land prices seem to have dented the appetite for land acquisition for developers and other entities in the second quarter of 2024.
Of the total land deals closed in Q2 2024, over 17 for more than 163 acres have been proposed for residential developments.
Agriculture, mixed-use development, data centres, logistics parks, industrial, and retail saw one deal each.
“While Bengaluru continues to be a hotbed for residential development, Gurugram has also upped its game," said Dr Thakur. Demand has been soaring here in the last couple of years, and developers are able to sell units in new projects very quickly post launch. “Mumbai, which topped in land deals in the previous quarters, saw just two land deals closed in Q2 2024 -- one for industrial purposes and the other for retail development,” he added.
Mumbai saw five land deals for nearly 34 acres in the first half this year (H1 2024). Pune, Ahmedabad, Noida and Thane collectively closed two land deals each for about 103 acres. Ghaziabad and Delhi closed one deal each for about 62.5 acres and five acres, respectively, the report mentioned.
