Realty firms buy nearly 6,000 acres land during 2022-24 for ₹90,000 crore to build projects
The Hindu
JLL India data reveals real estate developers acquired 5,885 acres for ₹90,057 crore during 2022-24.
Real estate developers have acquired 5,885 acres land during 2022-24 for ₹90,000 crore to build projects amid strong demand for housing and commercial assets, according to JLL India.
Real estate consultant JLL India data showed that real estate developers bought 1,603 acres of land in 2022 for ₹18,112 crore, 1,947 acres in 2023 for ₹32,203 crore.
During 2024, the land acquisition by developers touched 2,335 acres costing ₹39,742 crore.
During the 2022-24 period, real estate developers bought 5,885 acres for ₹90,057 crore.
The data includes only outright purchases by real estate developers, the consultant said.
Joint development agreements (JDAs), signed between developers and land owners, have not been included for the analysis.
"The year 2024 marked a watershed year in India's real estate sector, characterised by a surge in land acquisitions. Developers across the country embarked on an ambitious expansion drive, securing a vast 2,335 acres of land through 134 distinct transactions in key 23 cities," JLL India said.
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