Business

Deepinder Goyal’s ₹79 Crore Purchase Tops Delhi’s FY2024 Land Deals; 29 Deals Closed in NCR

In FY2024, 29 land deals totaling 314 acres were closed. Deepinder Goyal, co-founder and CEO of Zomato, purchased a 5 acre parcel in Dera Mandi for ₹79 crore, according to Anarock data. According to Anarock data, other purchasers in Delhi-NCR included real estate developers such as Mumbai-based Godrej Properties, Experion Developers, DLF Homes Developers, and the Prestige Group. According to Anarock statistics, 29 land sales spanning 314 acres were finalized in Delhi-NCR in FY 2024, compared to 23 land deals covering around 273.9 acres in FY 2023.

In Gurugram, 22 transactions totaling 208.22 acres were concluded. These comprised one agreement for educational, residential, and retail purposes, with the remaining 20 acquisitions solely for residential construction in the fiscal year ending March 2024. In Faridabad, a 15-acre residential land purchase was consummated.

Ganga Realty purchased an 8.35-acre property tract in Gurugram’s Sector 84 for ₹132 crore. Experion Developers purchased a 4-acre land parcel on Golf Course Road for ₹400 crore, a 5-acre land parcel in Sector 145 in Noida for ₹250 crore, a 5.5-acre land parcel in Sector 48, Gurugram for ₹550 crore, a 4.5-acre land parcel on Golf Course Road for ₹450 crore, and another land parcel in Sector 53, Gurugram for ₹400 crore, according to data shared by Anarock.

Godrej Properties, a Mumbai-based listed real estate business, purchased a 7.91 acre land parcel on Golf Course Extension Road for ₹900 crore, 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, according to statistics. DLF Homes Developers purchased 29 acres on Golf Course Extension Road in Gurugram for ₹825 crore, while Prestige Group purchased 62.5 acres in Ghaziabad for over ₹400 crore, according to statistics.

Land deals aimed at meeting Delhi-NCR’s demand for housing

“About 26 separate land deals, totaling approximately 298 acres, were proposed for residential and township projects to meet the region’s growing demand for housing and urban development,” said Santhosh Kumar, Vice Chairman of the Anarock Group. “At least two property purchases totaling more than 7 acres each were planned exclusively for commercial real estate projects. A second transaction comprising roughly 8.61 acres was allocated to an education-related project,” he explained.

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101 separate land deals sealed in 2023-24 across the country

According to Anarock statistics, real estate developers and companies closed on around 101 unique land deals in fiscal year 2023-24, totaling nearly 2,989 acres across the country.In FY-24, over 83 land sales for over 1,135 acres were finalized in the top seven cities alone, with the remaining 18 deals totaling 1,853 acres closing in tier 2 and 3 cities like as Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.