The number of real estate deals in India increased in 2022-23. There were over 87 land buyings in India that totalled over 1,862 acres that were finalised in FY23, as shown by the statistics. This represents a 12.9% increase in terms of land area compared to the previous financial year. During fiscal year 22 (FY22), 44 land transactions covering about 1,649 acres were closed. Even while the total number of transactions has climbed by almost 50 per cent since FY22, developers are signing many more deals for smaller regions. This is because the increase in size did not expand properly.
During the current fiscal year, about 951 acres' worth of residential or planned projects is going to be built over around 57 distinct purchases. At least 76 of the agreements that were finalised in FY23 took place in the top seven cities, with a combined total area of about 1,059 acres. The other 11 transactions, with a combined total area of over 803 acres, took place in Tier-2 and Tier-3 cities such as Ahmedabad, Kurukshetra, Lucknow, Nagpur, Panchkula, Panipat, Raigad, and Surat.
According to the Chairman of a Real Estate Company, "Big players are pulling out the options to get the better land parcels in key locations as land becomes costly during the fast real estate investment boom." The number of land transactions completed during the most recent fiscal year increased dramatically, going from 44 in FY22 to 87 in FY23. However, when measured in terms of area, the growth was only 13%, which suggests that a number of smaller plots were sold during FY 23.
Big cities are seeing more property deals.
The Mumbai Metropolitan Region (MMR) had the high land transactions out of the top seven cities, with 25 acquisitions totalling more than 267 acres. This was followed by the National Capital Region (NCR), which had 23 sales totalling more than 274 acres. In nine separate agreements, around 292 acres of land have changed hands in Chennai, making it the most successful city out of the top seven in terms of the overall quantity of land that was traded. MMR had the most land purchases in FY23, with 19 expected purchases for residential or plotted complexes totalling around 193 acres. This was followed by NCR, which had nine separate agreements, and Chennai, which had seven big land deals totalling approximately 194 acres.
"Large and listed companies have been cashing in on the increasing housing boom, as residential sales in the top seven cities reached higher in the last financial year (approximately 380,000 units)" Because land is the most important input commodity for real estate development, these companies have been making strategic land investments across several notable micro markets, and quite a few smaller transactions have been completed in the most recent fiscal year. Chairman added.
Conclusion:
Godrej Properties, Birla Estates, Gaurs Group, Birla Estate, Lodha Group, Signature Global, Mahindra LifeSpaces, M3M Group, and Gera Developers are some of the major real estate companies who purchased land lots in FY23 for different projects they were working on. Eleven separate land-related commercial and retail deals with a combined area of about 46.5 acres were successfully concluded. Nine of them, with a joint area of around 38 acres, were obtained in the NCR, while Ahmedabad and Surat each saw one of their own.
The purchase of land for data centres in areas such as MMR and Pune has been completed in three separate transactions totalling more than 83 acres. At least two agreements, with a combined land area of more than 13 acres, have been finalised to make industrial and warehousing properties in MMR and NCR. Six transactions with a combined area of about 54.5 acres were made in the BPO, hotel, and other industries that have yet to be reported in various cities, including MMR, Pune, and Chennai.
Source: Online and Different websites.