Hyd realty goes bullish on land acquisitions

New Delhi: The realty sector in India is now focusing on land acquisition, since surplus property sales have already picked up in the market since the outbreak of the Covid-19 pandemic.

With the reduced probability of another pandemic situation in the coming month, developers are concentrating on acquiring land to undertake new projects.

According to the report released by Anarock Group, 28 deals for over 1,237n acres of land have been closed so far in 2022. The numbers, for January 2021 to June 2021, stood at just 14 land deals, with an approximate land acquisition of 763 acres.

According to the realty consultancy body, an anonymous land deal for 600 acres has taken place in Hyderabad this year. Hyderabad remained highly buoyant in the ongoing period, with the most land transactions - 5 separate deals for 715 acres accounted for over 59 per cent of the total land transacted between January to May end, the report said.

According to Anuj Puri, chairman, of the Group, "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."

Bengaluru has seen 3 separate deals for a total of 140 acres kept for residential, mixed-use, and logistics developments, Delhi NCR also sealed 5 separate deals accounting for 9 percent of the total land deals in this period with approximately 106.3 acres. This includes 2 deals for a total of 91 acres in Gurugram, and one deal each in Delhi, Faridabad and Noida. The proposed developments include residential, mixed-use and warehousing.

"Land remains an important focus area for the sector post-Covid, with many well-capitalized developers and other entities sealing deals in the first five 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," Puri said.