Since July 2020 realtors bought 1,361-acres land across seven cities: Anarock Report

Between July 2020 and November 2021, various developers and entities locked around 45 separate land contracts, containing outright investments and joint developments, estimating over 1,757 acres across the top 7 cities.

According to a report by a property consultant Anarock, since July last year across seven primary cities real estate developers have amassed 1,361 acres of land to expand their business.

For the joint development of 380 acres of land parcel several real estate developers had also partnered with landowners.

Between July 2020 and November 2021, various developers and entities locked around 45 separate land contracts, containing outright investments and joint developments, estimating over 1,757 acres across the top 7 cities.

10 deals out of the total of 45 land deals are scattered over 380 acres and they were on a revenue-sharing basis (comprising joint development agreements and joint ventures)

While one deal of nearly 16 acres was on lease on an annual rental basis.

Anarock said on Monday that the prevailing 34 deals stretching over 1,361 acres were outright land agreements.

Vice-Chairman, Santhosh Kumar- ANAROCK Group said  “The last 7-8 months before Covid-19 (March 2020) saw limited land deals as the real estate industry was grappling with liquidity issues at the time. Then Covid-19 brought the sector to a virtual standstill for 3-4 months.”

He further added “However, from Q3 2020, activity resumed and several landowners who previously held fast to their land put their holdings up for sale. Resultantly, some prominent deals took place in the last year, at more or less the same price points as the previous year. Many developers with the financial wherewithal saw this period as opportune to secure good land parcels in key micro-markets across the top 7 cities.”

For the advancement of residential properties, maximum deals were formulated, said the consultant.