Land deals triple across top 8 cities: Report

Hyderabad topped the charts with deals for over 769 acres, accounting for 46 percent share of the total area transacted. The NCR came second with a 14 percent share.

Moneycontrol News

November 21, 2022 / 15:56 IST

The number of land deals across the top eight cities has more than tripled to 68 between January-September 2022, according to a report from ANAROCK. The deals account for 1,656 acres, compared to 20 land deals for 925 acres closed in the same period of 2021.

In terms of area, Hyderabad topped the charts with a 46 percent share, the National Capital Region (NCR) came second with a 14 percent share, and Bengaluru had a 13 percent share. The Mumbai Metropolitan Region (MMR) clocked the highest number of deals, but for small land parcels.

The report said that nearly 40 land deals, totalling 590-plus acres, are for residential development, and over 147 acres across four separate deals are designated for industrial and logistics parks, and warehousing.

Santhosh Kumar, VC, ANAROCK group said, “In terms of land area transacted, Hyderabad has seen the biggest land transactions so far this year. While Mumbai saw the highest number of transactions, the total area transacted was unspectacular. However, one must also consider the steep prices in this land-starved city.”

While Hyderabad saw seven deals for 769-plus acres, accounting for over 46 percent of the total land transacted between January-September, Bengaluru saw nine separate deals for a total of 223 acres — earmarked for residential-use, mixed-use, and a logistics park, the report added.