Delhi-NCR witnessed a notable rise in land deals during FY 2024, driven by increasing demand for housing and urban development. A total of 29 land deals encompassing approximately 314 acres were closed, reflecting a significant increase compared to the previous fiscal year, which saw 23 deals covering around 273.9 acres. Gurugram emerged as the frontrunner, accounting for 22 land deals totaling 208.22 acres. These deals were primarily intended for residential development, with one deal each allocated for educational, residential, and retail purposes. Other cities in the NCR region also contributed to this growth. Delhi concluded one deal spanning 5 acres for residential development, while Faridabad finalized a 15-acre deal for similar purposes. Greater Noida secured an 8.9-acre deal for residential development, and Ghaziabad signed a 62.5-acre deal for a township project. Noida closed three separate deals covering a combined area of 13.96 acres for both residential and commercial developments. This surge in land deals signifies the growing demand for real estate in the Delhi-NCR region and highlights the potential for further development in the coming years.
Delhi-NCR Witnesses Surge in Land Deals in FY 2024
