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GURGAON: Out of a total of 59 land deals between January and August this year, the National Capital Region (NCR) has finalized 13 separate transactions, accounting for four percent of the total land transactions, which sum up to approximately 89.82 acres.
These transactions encompass nine deals totaling 61.6 acres in Gurgaon, three in Noida for over 19 acres, and one in Delhi for around 9 acres.
The proposed developments include residential, retail, mixed-use, commercial, and plotted development, as indicated by the latest report from real estate consultants Anarock.
“The research report highlights that a total of 59 distinct land deals, amounting to 2018+ acres, have been completed nationwide from January to August 2023. During the same period in the previous year, approximately 50 land deals for a total of 1,438+ acres were concluded across different cities,” stated Anuj Puri, Chairman of Anarock.
Within the NCR, Max Estate, Ganga Realty, and Godrej Properties engaged in land transactions for residential purposes in Gurgaon. Meanwhile, CRC Group sealed a deal in Noida for mixed-use purposes.
Vikas Garg, Joint Managing Director of Ganga Realty, shared, “We recently procured 8.35 acres of land in Sector 84 of Gurgaon to develop a luxury housing project. Given the strong demand for luxury properties, we intend to announce numerous projects in the future as well. Land deals have become commonplace in the real estate sector and are expected to grow substantially due to the ongoing demand and the interests of both homebuyers and developers.”
Manoj Gaur, President of Credai NCR, commented, “The increasing figures depict a rising number of land deals, indicating a higher number of projects/units that will be available for buyers in the coming years. The NCR has witnessed the closure of 13 deals that will be utilized for various purposes, opening massive opportunities for both developers and investors.”
Rajjath Goel, Managing Director of the MRG Group, attributed the primary reason for NCR’s land deals to the robust infrastructure that has spurred economic growth.
Additionally, the influx of migrants from tier 2 and tier 3 cities to the NCR has contributed to the continuous expansion of the sector.
These transactions encompass nine deals totaling 61.6 acres in Gurgaon, three in Noida for over 19 acres, and one in Delhi for around 9 acres.
The proposed developments include residential, retail, mixed-use, commercial, and plotted development, as indicated by the latest report from real estate consultants Anarock.
“The research report highlights that a total of 59 distinct land deals, amounting to 2018+ acres, have been completed nationwide from January to August 2023. During the same period in the previous year, approximately 50 land deals for a total of 1,438+ acres were concluded across different cities,” stated Anuj Puri, Chairman of Anarock.
Within the NCR, Max Estate, Ganga Realty, and Godrej Properties engaged in land transactions for residential purposes in Gurgaon. Meanwhile, CRC Group sealed a deal in Noida for mixed-use purposes.
Vikas Garg, Joint Managing Director of Ganga Realty, shared, “We recently procured 8.35 acres of land in Sector 84 of Gurgaon to develop a luxury housing project. Given the strong demand for luxury properties, we intend to announce numerous projects in the future as well. Land deals have become commonplace in the real estate sector and are expected to grow substantially due to the ongoing demand and the interests of both homebuyers and developers.”
Manoj Gaur, President of Credai NCR, commented, “The increasing figures depict a rising number of land deals, indicating a higher number of projects/units that will be available for buyers in the coming years. The NCR has witnessed the closure of 13 deals that will be utilized for various purposes, opening massive opportunities for both developers and investors.”
Rajjath Goel, Managing Director of the MRG Group, attributed the primary reason for NCR’s land deals to the robust infrastructure that has spurred economic growth.
Additionally, the influx of migrants from tier 2 and tier 3 cities to the NCR has contributed to the continuous expansion of the sector.
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