The rise in major land deals across cities in India is a positive sign for the real estate sector and the country’s economy as a whole. With 87 big land deals accounting for over 1,862 acres in the 2022-23 fiscal year, compared to 44 deals accounting for 1,649 acres in the previous year, the real estate sector is witnessing significant growth.
The Mumbai Metropolitan Region (MMR) accounted for the highest number of land deals with 25 deals involving over 267 acres of land. Other regions, including Pune, Bangalore, Hyderabad, and Chennai, also saw significant land deals.
The growth of the real estate sector in India can be attributed to several factors. Firstly, the demand for commercial and residential properties continues to increase, as the population in cities continues to grow. This has led to a rise in the number of new development projects and housing schemes.
Secondly, the availability of land for development has also increased in recent years, which has provided developers with ample opportunities to invest in new projects. With the government’s focus on infrastructure development, there has been an increase in the number of land parcels that are available for development.
The rise in land deals is also a positive sign for the Indian economy. The real estate sector is a significant contributor to the country’s GDP, and the growth in this sector is expected to boost economic growth. With more investment flowing into the sector, there will be a positive impact on employment, as the sector creates jobs for both skilled and unskilled workers.
The increase in major land deals across cities in India is a promising sign for the real estate sector and the country’s economy. The trend is expected to continue in the coming years, as the Indian economy continues to grow, and the demand for real estate remains strong.