According to a report by real estate consultant Anarock, Ahmedabad recorded the biggest land transaction in 2023, with 739 acres sold in three deals for large township projects. The city also had the highest land area transacted, accounting for over 27% of the total 2,707 acres that changed hands in 97 deals across the country last year.
Anarock Chairman Anuj Puri said that Ahmedabad’s land prices are still among the most affordable and the city has seen rising demand for commercial and residential spaces since the pandemic. He added that financially strong developers and entities continued their land acquisition spree in 2023.
The Mumbai Metropolitan Region (MMR) had the highest number of deals (25) for small land parcels totalling 289 acres, mostly for residential projects. Delhi-NCR followed with 22 deals for various segments. Bengaluru had 11 deals for 424 acres, mainly for residential and manufacturing purposes.
Tier-2 and 3 cities, such as Ludhiana, Nagpur, Mysuru, Sanand, and Dahej in Gujarat, among others, also witnessed 10 land deals for 646+ acres last year.
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