India’s Land Deals Soar in 2024
In the first nine months of 2024, India saw a significant rise in land deal volumes, increasing by 65% compared to the previous year. According to a report by CBRE, approximately 1,700 acres were involved in these deals, with major activity in six key cities: Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru, and Pune.
Delhi-NCR Leads the Market
Delhi-NCR was at the forefront, accounting for 32% of the total land deals. Within this region, Gurgaon contributed 65% of the volume, followed by Noida/Greater Noida with over 20%. This marked a 65% increase in deals compared to 2023.
Other Major Cities
Bengaluru, Mumbai, and Chennai also saw substantial activity, making up 75% of the total land deal volume. Bengaluru accounted for 22%, Mumbai for 12%, and Chennai for 10%.
Asset Class Distribution
Residential properties dominated the deals, making up 61% of the total, covering over 870 acres. This was a 50% increase from the previous year. The Industrial & Logistics sector followed with 13%, while data centers and office spaces accounted for 6% and 8%, respectively. Retail and hospital assets made up 2% and 5% of the deals.
Expert Insights
Anshuman Magazine, Chairman and CEO of CBRE, highlighted the growing confidence in India’s real estate sector, driven by both established and emerging asset classes. Gaurav Kumar, Managing Director at CBRE India, noted the favorable economic conditions and strategic investments fueling this growth.
Doubts Revealed
Delhi-NCR -: Delhi-NCR stands for Delhi National Capital Region. It includes Delhi and nearby areas like Gurgaon, Noida, and Ghaziabad. It’s a big area where many people live and work.
Mumbai -: Mumbai is a large city in India, known as the financial capital. It’s famous for Bollywood, the Gateway of India, and being a busy business hub.
Bengaluru -: Bengaluru, also known as Bangalore, is a city in India. It’s known as the ‘Silicon Valley of India’ because many tech companies are based there.
Gurgaon -: Gurgaon is a city near Delhi, part of the Delhi-NCR. It’s known for its modern buildings and many offices of big companies.
CBRE -: CBRE is a company that provides real estate services. They help people buy, sell, and manage properties.
Investor confidence -: Investor confidence means that people who invest money feel positive about the future. They believe they will make good returns on their investments.
Favorable economic conditions -: Favorable economic conditions mean that the economy is doing well. People have jobs, businesses are growing, and there’s more money to spend.
