Deepinder Goyal bought 5 acres for ₹79 crore in Delhi’s biggest land deal in FY2024; 29 land deals closed in Delhi-NCR

While there were 29 land deals spread across an area of 314 acres closed in FY2024, there was one large deal in Delhi and the individual buyer was Deepinder Goyal.

While there were 29 land deals spread across 314 acres closed in FY2024, there was one large deal in Delhi and the individual buyer was Deepinder Goyal, co-founder and CEO of the online food delivery firm, Zomato, who bought a 5 acre land parcel in Dera Mandi area for ₹79 crore, data accessed by Anarock showed.

The other buyers in Delhi-NCR included real estate developers such as Mumbai-based Godrej Properties, Experion Developers, DLF Homes Developers and Prestige Group among others, Anarock data showed.

Delhi-NCR saw 29 land deals spread across 314 acres closed in FY 2024 as against 23 land deals covering approximately 273.9 acres in FY 2023, data shared by Anarock showed.

In Gurugram 22 deals totaling 208.22 acres were closed. These included one deal each for educational, residential, and retail purposes, while the remaining 20 deals were exclusively for residential development in the financial year ending March 2024. In Faridabad, a 15-acre land deal was finalized for residential purposes.

These included a 8.35 acre land parcel in sector 84, Gurugram, bought by Ganga Realty for ₹132 crore. Experion Developers bought 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 Golf Course Road for ₹450 crore and one more land parcel in Sector 53, Gurugram for ₹400 crore, data shared by Anarock showed.

Mumbai-based listed real estate firm Godrej Properties bought 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, the data showed. DLF Homes Developers bought 29 acres in Golf Course Extension Road in Gurugram for ₹825 crore and Prestige Group bought 62.5 acres for more than ₹400 crore in Ghaziabad, the data showed.

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 – ANAROCK Group.

“At least two land deals, spanning over 7 acres each, were planned specifically for commercial real estate projects. A separate deal involving approximately 8.61 acres was dedicated to an education-related project,” he said.

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

Real estate developers and entities sealed approximately 101 separate land deals in fiscal year 2023-24, cumulatively accounting for nearly 2,989 acres across the country, according to data shared by Anarock.

In FY-24, over 83 land deals for over 1,135 acres closed in top seven cities alone, remaining 18 deals over 1,853 acres in tier 2 and 3 cities, including Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.

Read more news like this on HindustanTimes.com