Owing to a steep rise in land prices, developers across India have slowed down land purchasing activity and are opting for joint development agreements (JDAs). In the first nine months of calendar year 2026, a total of 76 deals for approx. 1,445 acres took place in India as against 99 deals for approx. 3,292 acres in the same period last year, as per the latest report by a real estate consultant Anarock. The slowdown comes after three years of strong deal growth.
"The first nine months of 2026 saw 76 land deals for around 1,445 acres, signalling a more cautious and selective acquisition strategy," said Mayank Saksena - MD & CEO - Land Services, Anarock Group.
"With project economics becoming more important, developers are increasingly turning to JDAs with existing landowners. These are distinct from joint ventures or JVs, where developers partner with other developers who have constrained ability to complete projects. Under a JDA arrangement, a developers can access land and build projects via a partnership rather via an outright purchase,” added Saksena.
The number of JDA transactions rose from 10 in 2022 to 30 in 2025 and the share of total JDA deals increased from around 12% to nearly 24% in 2025 and further to 25% in 9M 2026. In short, JDAs accounted for one in every four land deals in the first nine months of 2026. Of the 76 deals closed in the period, at least 19 were JDAs.
Land prices across India's top seven cities surged 50% to 120% between 2021 and the first half of 2026, equivalent to annualised growth of roughly 8% to 15%, according to Anarock Research.
Between 2022 and 9M 2026, a total of 516 deals spanning 12,958 acres were closed across the country. While 2024 saw the highest number of land deals (133) spanning over 2,515 acres, 2025 stood out in terms of acreage - 126 deals over 3,772 acres.
Large transactions (50+ acres) fell from 12 in 9M 2025 to just five in 9M 2026, with their combined acreage dropping from approx. 2,398 acres to 588 acres in the same period.
Between 2022 and 9M 2026, the Mumbai Metropolitan Region (MMR) led land acquisition with approximately 2,798 acres, followed by the National Capital Region (NCR) with 2,012 acres, and Bengaluru at 1,679 acres.
Trends indicate that developers continue to buy land in the established metros, but the biggest parcels are increasingly being acquired in tier 2 and 3 markets. The seven established metros (MMR, NCR, Bengaluru, Hyderabad, Pune, Chennai, and Kolkata) accounted for about 86% of the 516 deals on record but only about 57% of the roughly 12,960 acres were acquired. The largest single transactions were a 714-acre deal in Coimbatore, a 600-acre deal in Hyderabad, and two Ahmedabad deals of 500 and 440 acres.