India Sees Over 97 Land Deals Closing on 2707+ Acres in 2023 – ANAROCK


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    Land Deals Surge in 2023: Overview

    In contrast to 2022’s 82 land deals covering 2,508+ acres, 2023 witnessed an impressive total of 97 land deals, closing at 2,707+ acres. Combining both years, the nation experienced a substantial 179 land deals covering a vast expanse of 5,215+ acres.

    Distribution by Usage: Residential Dominates

    Out of the 97 land deals in 2023, a majority of approximately 74 deals, covering 1,945+ acres, were proposed for residential development. Industrial & Logistic Parks and Manufacturing claimed around 565 acres, while mixed-use development secured 126+ acres, and commercial and IT Parks acquired 27.5 acres.

    Top Cities Land Deal Share: Ahmedabad Takes the Lead

    Among the top 8 cities, Ahmedabad emerged as the leader in land deal share with 27%, covering 739.8 acres. Bengaluru followed at a distant 2nd with a 16% share, equivalent to approximately 424.5 acres, while MMR held an 11% share, accounting for 289+ acres.

    Regional Trends: MMR and NCR Dominate in Number of Deals

    In terms of the total number of deals in 2023, MMR secured the highest position with 25 land deals, closely followed by NCR with 22 land deals. These two realty hotspots showcased a continued dominance in the land acquisition spree.

    2023: A Stand-Out Year for Land Acquisition

    The year 2023 marked a standout period for financially strong developers and entities engaging in significant land acquisition. With 97 separate land deals covering over 2,707 acres, the trend is indicative of a robust real estate landscape fueled by strong residential sales momentum.

    Land deals in 2023

    • In 2023, a total of 97 land deals were concluded.
    • Approximately 74 deals, covering over 1,945 acres, were designated for residential development across tier 1, 2, and 3 cities.
    • 564.75 acres were allocated in 6 distinct deals for Industrial & Logistic Parks and Manufacturing.
    • 7 deals, encompassing over 126 acres, were dedicated to mixed-use developments.
    • 5 deals, totaling over 27.5 acres, were specifically allocated for commercial and IT Parks.
    • Another approximately 43.35 acres were set aside in 5 separate deals for various asset classes, including retail, hospitality, and some that are yet to be decided.
    Proposed DevelopmentNo. of Land DealsApprox. Size (acres)
    Residential including plotted development & Township Project741945.49
    Industrial, Logistics & Manufacturing6564.75
    Commercial & IT Park527.5
    Others (Hotel/Retail or Undecided)543.35
    Source: ANAROCK Research

    Citywise Breakdown

    Breaking down land transactions by city, Ahmedabad led in transaction size for the most significant land deal in 2023. The city maintains comparatively affordable land prices, attracting developers amid increased commercial and residential demand post-pandemic. Despite MMR registering the highest total number of deals at 25, these mostly involved small land parcels covering around 289 acres. NCR secured the second-highest position with 22 land deals closed in 2023.

    According to Anuj Puri, Chairman of ANAROCK Group, the dynamics highlight the attractiveness of Ahmedabad for land deals, given its affordability and heightened real estate demand.

    Top 7 Cities

    CityNo. of DealsApprox. Size (acres)

    Tier 2 & 3 Cities

    CityNo. of DealsApprox. Size (acres)
    Sanand & Dahej (Gujarat)276
    Karnala & Nagpur (Maharashtra)3172.39
    Cuttack (Orissa)157
    Source: ANAROCK Research

    Top Land Deals Across Cities in 2023

    Deal in QuarterBuyerCityApprox. Size (in Acres)Approx. Value (INR-crore)Proposed Development
    Q1-2023Supreme UniversalMumbai5311Residential
    Q1-2023Godrej PropertiesChennai60100Plotted Development
    Q1-2023Shoden Developers (House of Hiranandani)Thane24655Residential
    Q1-2023Arogya Bharati HospitalsMumbai23540Residential
    Q2-2023VTP RealtyPune6.7260Residential
    Q2-2023Ganga RealtyGurgaon8.35132Residential & Retail
    Q2-2023KalpataruPune15JDAMixed Use
    Q3-2023Prestige GroupChennai7JDAIT Park
    Q3-2023Experion DevelopersGurgaon4400Residential
    Q3-2023Arvind SmartspaceAhmedabad500JDATownship Project
    Q3-2023Rajpushpa Properties Pvt LtdHyderabad3.6362Residential
    Q4-2023Sparkle Two Mall DevelopersThane11429Retail
    Q4-2023Oberoi RealtyGurgaon14.8597Residential
    Q4-2023Aethon Developers (Runwal)Mumbai4.13726Residential
    Source: ANAROCK Research

    Land Transactions Overview in 2023


    • Land Area: 739+ acres in 3 separate deals.
    • Share: Over 27% of the total land transacted.
    • Proposed Developments: All 3 deals are for large township projects.


    • Deals: 11 separate deals.
    • Land Area: 16% share with 424+ acres changing hands.
    • Composition: 10 deals for residential development, 1 for manufacturing.

    Mumbai Metropolitan Region (MMR):

    • Deals: Highest number – 25 deals.
    • Land Area: Approx. 289 acres.
    • Allocation: 20 deals for residential, 2 for mixed-use developments, 1 each for IT Park, hotel, and retail.

    National Capital Region (NCR):

    • Deals: 22 separate land deals.
    • Land Area: 190+ acres.
    • Distribution: 16 deals in Gurugram, 3 in Noida, 1 each in Delhi, Faridabad, and Greater Noida.
    • Proposed Developments: Residential, retail, mixed-use, commercial, and plotted development.


    • Deals: 9 separate deals.
    • Land Area: 69.5+ acres.
    • Proposed Development: Earmarked for residential development.


    • Deals: 6 separate deals.
    • Land Area: 49+ acres.
    • Proposed Developments: Residential and mixed-use.


    • Deals: 7 land deals.
    • Land Area: 198+ acres.
    • Proposed Developments: Township project, IT Park, and residential development.


    • Deals: 3 land deals.
    • Land Area: 24.88 acres.

    Tier 2 & 3 Cities:

    • Deals: At least 10 land deals.
    • Land Area: 646+ acres.
    • Proposed Developments: Residential development, township project, manufacturing, logistics park, and mixed-use.

    Source: ANAROCK Research

    Also read : Rapid Surge in Property Prices Across Major Indian Cities in Q4 2023 – Magicbricks Report

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