Land deals up 65 pc in Jan-Sep, over 100 transactions totalling 1,700 acres: CBRE

New Delhi: CBRE (Commercial real estate services & investment company) reported a notable rise in land deals in the Indian real estate industry from January to September this year, with more than 100 transactions amounting to approximately 1,700 acres. A survey by real estate consultant CBRE found around 60 land deals happened last year, amounting to more than 1,200 acres. As per the consultancy, the amount of land transactions in India saw a 65 percent annual increase from January to September 2024, reaching a total of more than 1,700 acres. Six major Indian cities, including Delhi-NCR, Mumbai, Chennai, Hyderabad, Bengaluru, and Pune, played a dominant role in land transactions. Anshuman Magazine, Chairman & CEO of CBRE India, South-East Asia, Middle East & Africa, said that the rise in land deals across various asset classes demonstrates strong investor confidence and the changing nature of the Indian real estate market. The analyst stated that the increasing growth in established segments like residential and office, as well as emerging categories like data centers, demonstrates growing investor confidence in India's real estate sector's long-term potential.

India's real estate sector is experiencing a surge, with Delhi-NCR taking the lead in land transactions, accounting for 32 pc of deals in 2024.

The magazine believes that India is a crucial real estate investment market due to this confidence. In the first nine months of this year, 32 percent of land deal activity took place in Delhi-NCR, with Bengaluru, Mumbai, and Chennai following at 22 percent, 12 percent, and 10 percent, respectively. During the January-September timeframe, land activity was spread out among different sectors, with residential properties in the lead, making up 61 percent of the total deals involving more than 870 acres. The I&L sector came next, making up 13 pc of all land transactions totaling 525 acres.

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The office segment also grew, accounting for 8 per cent of all property sales covering more than 20 acres.

Retail and hospital assets accounted for 2 per cent and 5 per cent of all transactions from January to September 2024, respectively, with retail covering more than 20 acres and hospitals covering more than 11 acres. According to Gaurav Kumar, Managing Director, Capital Markets and Land, CBRE India, the considerable increase in land acquisitions this year reflects domestic and foreign investors' strong confidence in India's real estate potential.  "The strong demand in many markets, combined with good economic conditions, has produced an environment conducive to growth. We expect this trend to continue, fueled by strategic investments that highlight the market's stability and long-term development prospects," Kumar added.

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