HYDERABAD: The appetite for land acquisition continues unabated for developers in the post-pandemic world. Players with the financial wherewithal are eyeing prime land at key locations.Among all cities in the country, Hyderabad remains highly buoyant in the period, recording the most land transactions. A total of five separate deals for 715 acres accounted for over 59 percent of the total land transacted between January to date.
According to Anarock research, Hetero Group has acquired as much as 600 acres of land which is a worth of Rs 350 crore. However, the development type has not yet been revealed. This apart, Microsoft has acquired 41 acres to set up the data centre. The cost of this land deal was worth Rs 164 crore.
Anarock research reveals that between January 2022 till date, various entities sealed at least 28 separate land deals cumulatively accounting for over 1,237 acres across the country. Of the total transacted land, at least 18 deals account for 351 acres which are earmarked for multiple residential projects across cities.
Anonymous 600-acre deal
At least three deals for over 115 acres are proposed for data centres, while two deals for over 63 acres are for logistics and warehousing projects. At least four deals for over 108 acres are for mixed-use developments. A single, currently anonymous land deal for 600 acres has taken place in Hyderabad, which is the biggest deal in the country.
Hyderabad is followed by Bengaluru which saw three separate deals for a total of 140 acres which are earmarked for residential, mixed-use, and logistics developments. NCR sealed five separate deals accounting for nine percent of the total land deals in this period with approximately 106.3 acres.
The leading developers and entities who bought land parcels for residential developments include Godrej Properties, Oberoi Realty, Mahindra LifeSpaces, Gaurs Group, Birla Estates, Hetero Group, Microsoft, and Mapletree Logistics, among others.
“In comparison to H1 2021, the number of deals has doubled - from 14 deals in H1 2021 to 28 deals between January 2022 till date. And there’s more than a month to go for the half-year mark. As expected, residential development remains the prime focus, given the robust housing demand that has lost little of its steam despite interest rate and property price hikes,” Anuj Puri, Chairman, Anarock Group.