Telangana struck gold at Davos on the first day of the World Economic Forum, bagging two deals with an investment of Rs 1,000 crore. A major beneficiary of this would be Hyderabad, the state's largest city.
Back home, too, the city of pearls has emerged as the go-to place for land deals. As per a recent report by property consultant Anarock, of the 1,237 acres of land deals that were stuck by property developers since January this year, Hyderabad accounted for 59 percent, or 715 acres to be exact.
A major chunk of land in Hyderabad, 600 acres, was bought by Hetero Group at Rs 350 crore from an undisclosed seller. The pharma company has not divulged the proposed development plan for the parcel. Microsoft also bought 40 acres for a data development centre.
Switzerland's Swiss Re will also be setting up their office in Hyderabad in August. (Chart from Anarock report)In contrast to Hyderabad's 715 acres, which includes a deal with UAE-based Lulu Group, Bengaluru saw three separate deals for 140 acres and the Delhi National Capital Region (NCR) saw the sale of 106.3 acres by way of five transactions.
Pune saw five separate deals for over 91.1 acres, and the land-starved Mumbai Metropolitan Region (MMR) saw five deals involving 54.85 acres, all earmarked for residential developments.
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The total acreage transacted by way of 28 deals this year was 38.3 percent higher than the 763 acres transacted by way of 14 deals from January to June 2021, the report revealed. These deals have been for residential, mixed-use, data centre and logistics centre developments.
Of total deals in 2022, 351 acres by way of 18 transactions were for residential developments. According to Anarock, the leading developers and entities who bought land parcels for residential developments include Godrej Properties, Oberoi Realty and Mahindra LifeSpaces, among others.
“Land remains an important focus area for the sector post-COVID, with many well-capitalised developers and other entities sealing deals in the first five months of 2022," said Anuj Puri, chairman of Anarock.
“Compared to the first half of 2021, the number of deals has doubled, and there’s more than a month to go for the half-year mark,” he said, adding residential development would continue to remain the prime focus for real estate developers, despite the interest-rate hike.
“The robust housing demand hasn’t lost steam despite interest rates and property price hikes,” he said, adding, “However, these two factors may yet reflect in the momentum going forward.”
First Published: May 26, 2022 5:26 PM IST
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