The urge for food for land acquisition continues unabated for builders and different entities within the post-pandemic world. Players with the monetary wherewithal are eyeing prime land at key areas throughout India to deploy developments throughout actual property asset lessons.
ANAROCK Research reveals that from January 2022 until date, varied entities sealed no less than 28 separate land offers cumulatively accounting for over 1,237 acres throughout the nation. Of the full transacted land, no less than 18 offers accounting for 351 acres are earmarked for a number of residential tasks throughout cities.
At least 3 offers for over 115 acres are proposed for information centres, whereas two offers for over 63 acres are for logistics and warehousing tasks. At least 4 offers for over 108 acres are for mixed-used developments. A single, at the moment nameless land deal for 600 acres has taken place in Hyderabad.
* Hyderabad remained extremely buoyant within the interval, with essentially the most land transactions – 5 separate offers for 715 acres accounted for over 59% of the full land transacted between Jan so far. These included one for 600 acres (improvement sort not but revealed).
* Bengaluru noticed 3 separate offers for a complete of 140 acres earmarked for residential, mixed-use, and logistics developments.
* NCR additionally sealed 5 separate offers accounting for 9% of the full land offers on this interval with approx. 106.3 acres. This contains 2 offers for a complete of 91 acres in Gurugram, and one deal every in Delhi, Faridabad and Noida. The proposed developments embody residential, mixed-use and warehousing.
* Pune noticed 5 separate offers for over 91.1 acres of land, accounting for 7% of the full land space transacted pan-India. All are proposed for residential improvement.
* Land-starved MMR noticed 5 offers involving 54.85 acres, all earmarked for residential developments.
* Chennai noticed 1 deal for five.5 acres the place a mixed-use improvement has been proposed.
* Tier 2 & 3 cities with main land offers included Ahmedabad (2 offers for over 6 acres), Nagpur (1 deal for over 58 acres), and Sonipat (1 deal for over 50 acres).
Commenting on the identical, Anuj Puri, Chairman, ANAROCK Group, mentioned, “The leading developers and entities who bought land parcels for residential developments include Godrej Properties, Oberoi Realty, Mahindra LifeSpaces, Gaurs Group, Birla Estates, Hetero Group, Microsoft, and Mapletree Logistics, among others.”
Land stays an essential focus space for the sector post-Covid, with many well-capitalized builders and different entities sealing offers within the first 5 months of 2022.
“In comparison to H1 2021, the number of deals has doubled – from 14 deals in H1 2021 to 28 deals between January 2022 till date,” mentioned Puri.
“And there’s more than a month to go for the half-year mark. As expected, residential development remains the prime focus, given the robust housing demand that has lost little of its steam despite interest rate and property price hikes. However, these two factors may yet reflect in the momentum going forward.”
Source: www.financialexpress.com”