Land Deals in India Rise by 48% in 2024: Key Trends and Insights

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The real estate market in Delhi-NCR saw a big jump in land deals in 2024. Over 40 deals were reported, with Gurugram making up more than 60% of these. Noida and Greater Noida followed, accounting for 25% of the region’s deals.

Overall, land transactions grew significantly across India. According to CBRE data, land deal volumes increased by 48%, rising from 1,350 acres in 2023 to 2,000 acres in 2024. In total, 135 large land deals were completed nationwide, compared to 90 the previous year.

Anshuman Magazine, CEO of CBRE India, said this rise shows that investors are confident in India’s growing real estate sector.

Cities and Sectors Driving Growth

Delhi-NCR led the market with the highest number of land deals. Bengaluru came next with nearly 30 deals, while Mumbai and Chennai recorded around 25 and 15 deals, respectively.

The key reason for this boom is the strong demand for housing, a growing economy, and supportive government policies. Residential projects made up 60% of the total land transactions, covering over 1,190 acres — a 70% increase from 2023.

The industrial and warehousing sector also showed good growth, with 580 acres of land deals driven by the need for more storage and manufacturing space. Data centres accounted for 10% of the transactions, reflecting rising demand for digital infrastructure.

Other uses, like mixed-use developments and hospitals, made up 15% of the total deals. Retail and office spaces contributed 5ch, boosted by demand for modern offices and shopping spaces.

A Promising Future

“Residential real estate is booming because of urbanisation, better policies, and improved affordability,” Magazine said. He added that the growth in data centres and office spaces shows India’s rising importance as a hub for technology and business.

This strong momentum makes India an attractive market for real estate investments, with 2024 marking a record year for land deals.For more insights and property solutions, visit EazeMyRent.