607 Acres, 30 Deals: MMR Tops Land Volumes, NCR Has Most Deals in 2024

Mumbai, January 16, 2025: Financially strong developers and other entities continued to acquire land in 2024 despite escalating land prices. MMR led in terms of land deal sizes, while NCR saw the greatest number of land deals closed among all cities in the last year.

ANAROCK Group Chairman Anuj Puri says, “The highest land areas transacted in 2024 were in MMR, with 607+ acres in 30 separate transactions. This accounted for over 24 per cent of the total land transacted. Residential, commercial, education and healthcare, villa projects and plotted developments, mixed-use, industrial, and data centres are among the planned developments. In total, there were at least 133 separate land deals for over 2,515 acres closed in 2024 across the country”.

2024 Highlights

• Of 133 land deals closed in 2024, 95 deals for approx. 1,948 acres are proposed for residential development across tier 1, 2 and 3 cities.
• 97+ acres in 4 separate deals are earmarked for Industrial & Logistic Parks.
• 5 deals for 124+ acres are for mixed-use developments.
• 12 deals for approx. 175 acres are for commercial spaces and data centres.
• 78+ acres in 12 separate deals are earmarked for retail, education & healthcare, agriculture, senior living and other asset classes.
• Development purpose for 5 deals spanning approx. 93 acres is still undecided.
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City-wise Breakup

• MMR saw the highest land area transacted – 607+ acres in 30 separate deals – and accounted for over 24 per cent of the total land transacted in 2024. The planned developments include residential, commercial, education & healthcare, villaments and plotted developments, mixed-use, industrial and data centres.
• NCR saw the highest number of deals (38) for approx. 417 acres, earmarked largely for residential (31), 3 deals for commercial projects, 2 for Industrial & Logistics Parks, and 1 deal each for agricultural and educational developments. City-wise, there were 24 deals – 273.04 acres in Gurugram, 9 deals for a total of 53.73 acres in Greater Noida, 2 deals for 18.88 acres in Delhi, two deals for 8.96 acres in Noida, and 1 deal for 62.5 acres in Ghaziabad.
• Bengaluru sealed 26 separate deals accounting for a 12 per cent share of the total land area transacted in 2024, with 307+ acres changing hands – 22 deals for various residential developments, 2 for commercial and data center development, and 1 deal for a senior living project. The purpose for one deal remains undecided.
• Hyderabad saw 4 separate deals for 67.1+ acres earmarked for residential and data centre developments.
• Pune saw 8 separate deals for 63.22+ acres proposed for residential, mixed-use and data center developments.
• Chennai saw 7 deals for 69.07 acres proposed for retail, commercial, Logistic Park and residential developments.
• Kolkata saw 1 deal for 53 acres closed for residential development.
• Tier II & III cities together saw at least 16 land deals for 930+ acres closed in 2024. The proposed developments include residential (including plotted developments), mixed-use projects, retail, data center, and senior living.