Hyderabad accounts for 50 per cent of total land deals in the country this year – न्यूज़लीड India

Hyderabad accounts for 50 per cent of total land deals in the country this year


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oi-Foziya Khan

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Published: Tuesday, November 22, 2022, 21:21 [IST]

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Hyderabad, Nov 22 – Further consolidating its position in commercial real estate, Hyderabad witnessed nearly 50 per cent of the total land deals recorded in the country this year. During January-September, Hyderabad registered a total of seven land deals to the extent of 769 acres. The latest Anarock research showed that the top eight cities closed at least 68 different land deals for 1,656 acres in the first nine months of 2022, and of this, Hyderabad alone accounted for 769 acres. Land, the most precious finite resource amid rapid urbanisation, Greater Hyderabad is witnessing increased activity post the pandemic.

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The appetite for land acquisition continues unabated with developers eyeing prime land at prime locations, especially in west Hyderabad. Hyderabad is followed by Bengaluru, which struck three separate deals for a total of 223 acres, earmarked for residential, mixed-use and logistics development. MMR saw highest number of transactions cumulatively for only 199 acres allotted for residential and logistics development. Regarding buyers, Hetero Group has acquired 600 acres of land for Rs 350 crore. However, the type of development is yet to be revealed. Apart from this, Microsoft has acquired 41 acres of land to set up a data center. The deal price of this land was Rs 164 crore.

The total value of the top land deals is Rs 1,313 crore. Across the country, prominent developers and entities that have bought land parcels for residential development include Godrej Properties, Oberoi Realty, Mahindra Life Spaces, Gaurs Group, Birla Estates, Hetero Group, Microsoft and Mapletree Logistics, with four holding 47 acres. . Separate deals have been done for industrial and logistics parks and warehousing. “In terms of land area transacted, Hyderabad has witnessed the biggest ever land transactions this year. In terms of total number of land deals, MMR saw the highest number of deals; while the total area transacted was staggering, One must also consider the high prices in this land-starved city,” said Santosh Kumar, Vice Chairman, ANAROCK Group.

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english summary

Hyderabad accounts for 50 per cent of total land deals in the country this year.

Story first published: Tuesday, November 22, 2022, 21:21 [IST]

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