Realtors closed 87 land deals totalling 1,862 acre in FY23: Anarock

Real estate developers remained active on land acquisition for future development and they closed at least 87 land deals totalling 1,862 acres during the last fiscal year, according to Anarock.

During the previous year 2021-22, real estate consultant Anarock noted that 44 land deals accounting for about 1,649 acres were closed across various cities.

Anarock Chairman Anuj Puri noted that size of the deals were smaller in the 2022-23 fiscal as compared to the previous year.

Of all deals closed in FY23, at least 76 accounting for about 1,059 acres were in seven major cities, and the remaining 11 deals accounting for 803 acres took place in Tier 2 and 3 cities including Ahmedabad, Kurukshetra, Lucknow, Nagpur, Panchkula, Panipat, Raigad and Surat.

Among the top seven cities, Mumbai Metropolitan Region (MMR) saw the maximum 25 land deals accounting for over 267 acres, followed by Delhi-NCR with 23 land deals totalling 274 acres.

In terms of total land transacted, Chennai saw maximum at