According to JLL India, the property developer acquired 5,885 acres of land for Rs 90,000 for Rs 90,000 between 2022-24 and built the project at 90,000 crore.
Data from real estate consultant JLL India showed that the property developer purchased 1,603 acres of land for 18,112 crores in 2022 and 32,203 crores on 1,947 acres in 2023.
In 2024, the land acquisition by the developer touched 2,335 acres of Rs 39,742. From 2022-24, the property developer purchased 5,885 acres for Rs 90,057. The data only includes full purchases by real estate developers, the consultant said.
No joint development agreements (JDAS) signed between the developer and the landowner are included in the analysis.
‘2024 marked the year of the divergent year of the Indian real estate sector, characterized by a surge in land acquisition. Developers across the country embarked on an ambitious expansion drive, securing 2,335 acres of vast land through 134 different transactions in 23 major cities,” JLL India said. The 2,335 acres of land acquisition in 2024, worth Rs 39,742, creates 194 million square feet of development potential.
The consultant said 81% of the land purchased in 2024 will be used to develop housing projects. Tia I cities – Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai metropolitan area, Pune maintained its control, accounting for 72% of land purchases.
Tier II and III cities claimed a significant 28% share of the acquisition, translated it into 662 acres of land. “This trend indicates a growing awareness of the potential for untapped developments in these emerging markets,” JLL said.
In particular, cities such as Nagpur, Varanasi, Indore, Vrindavan and Rudhiana have emerged as unexpected hot spots for the acquiring of the land, the consultant added.
