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In a significant development in Delhi’s real estate landscape, Deepinder Goyal, the co-founder and CEO of Zomato, has made headlines with a major land acquisition. Goyal acquired a sprawling 5-acre land parcel in Dera Mandi area for a whopping ₹79 crore, marking one of the largest land deals in the region for the fiscal year 2024.
Data accessed from Anarock reveals that while there were 29 land deals closed across Delhi-NCR, covering a total of 314 acres in FY2024, Goyal’s purchase stood out as the standout deal in the capital city. The other notable buyers in the region included prominent real estate developers such as Godrej Properties, Experion Developers, DLF Homes Developers, and Prestige Group.
Delhi-NCR’s real estate sector witnessed a flurry of activity with a total of 29 land deals, up from 23 deals in the previous fiscal year. These deals encompassed various purposes, including residential, commercial, and educational projects, showcasing the dynamic nature of the real estate market in the region.
Notable deals in Gurugram included a 8.35-acre land parcel in sector 84 acquired by Ganga Realty for ₹132 crore, Experion Developers’ purchase of a 4-acre land parcel on Golf Course Road for ₹400 crore, and Godrej Properties’ acquisition of a 7.91-acre land parcel on Golf Course Extension Road for a staggering ₹900 crore.
Mumbai-based Godrej Properties also made significant investments in the region, securing a 14.8-acre land parcel in Sector 103 Gurugram for ₹403 crore and a 6.46-acre land parcel in Noida Sector 44 for around ₹500 crore. DLF Homes Developers and Prestige Group also made substantial land acquisitions, further highlighting the robust activity in the Delhi-NCR real estate market.
Commenting on the trend, Santhosh Kumar, Vice Chairman of ANAROCK Group, emphasized that the surge in land deals, especially for residential and township projects, reflects the growing demand for housing and urban development in Delhi-NCR. The data indicates a strategic focus on meeting the region’s evolving real estate needs across various sectors.
Overall, the fiscal year 2023-24 witnessed a total of 101 land deals across the country, covering nearly 2,989 acres. While major cities like Delhi-NCR, Mumbai, and Bengaluru saw significant activity, tier 2 and 3 cities also contributed to the overall land deal landscape, indicating a broad-based growth trajectory in the real estate sector nationwide.
Sources By Agencies
