Land deals surge over threefold in first nine months of 2022: Report

Nearly 68 land deals, accounting for 1,656 acres, were registered in the first nine months of this calendar year in the top 8 cities, according to a report by ANAROCK research. Around 20 land deals for 925 acres were closed In the corresponding period last year.

The top 8 cities include National Capital Region, Mumbai Metropolitan Region, Bengaluru, Hyderabad Pune, Chennai, Kolkata, and Ahmedabad.

Out of the 68 deals, nearly 40 deals accounting for over 590 acres, was proposed for residential development by the developers and entities.

Over 147 acres in four separate deals is reserved for industrial and logistics parks, and warehousing purposes, four deals for over 119 acres for data centres, and approximately 26 acres in four separate deals for commercial development, said the report.

In city-wise outlook, Hyderabad saw seven separate deals for more than 769 acres, accounting for over 46 per cent of the total land transactions, followed by National Capital Region which sealed 16 separate deals accounting for 14 per cent of the total land deals covering around 234 acres.