Surge in Real Estate Land Acquisitions: Developers Secure 5,885 Acres for ₹90,000 Crore
The Indian real estate sector witnessed a remarkable surge in land acquisitions between 2022 and 2024, as developers secured 5,885 acres of land for an estimated ₹90,000 crore. This strategic expansion highlights the strong demand for residential and commercial properties across the country, according to data from JLL India.
Breakdown of Land Acquisitions Over the Years
- 2022: Developers acquired 1,603 acres for ₹18,112 crore.
- 2023: Land acquisitions increased to 1,947 acres, amounting to ₹32,203 crore.
- 2024: The most significant jump occurred in 2024, with developers purchasing 2,335 acres for ₹39,742 crore.
Over the three-year period, developers collectively invested ₹90,057 crore in outright land purchases. Notably, this data excludes land acquired through Joint Development Agreements (JDAs), which are common in the real estate sector.
Key Insights from 2024 Land Acquisitions
JLL India described 2024 as a “watershed year” for India’s real estate sector, witnessing an ambitious expansion drive. Developers secured 2,335 acres through 134 transactions across 23 major cities. This newly acquired land has the potential to generate approximately 194 million sq ft of real estate development.
Focus on Residential Projects
A substantial 81% of the land acquired in 2024 will be dedicated to residential developments, signaling developers’ confidence in the growing housing demand.
Regional Insights
- Tier I Cities such as Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai Metropolitan Region, and Pune dominated the acquisitions, accounting for 72% of the total purchases.
- Tier II and III Cities also emerged as key players, claiming 28% of the total land acquired, amounting to 662 acres.
Cities like Nagpur, Varanasi, Indore, Vrindavan, and Ludhiana stood out as unexpected hotspots in this land acquisition trend, showcasing growing investment interest in emerging markets.
Market Outlook
This surge in land acquisitions underscores developers’ proactive approach to meeting India’s evolving real estate needs. With expanding infrastructure and increasing demand, the real estate sector is poised for substantial growth in the coming years.
