Land is indeed the much talked about topic of conversation among the rich and well-heeled in the city. While the residential property seems robust, the commercial land deals have surprised the best in the country. In Hyderabad city, five separate deals have taken place worth Rs 715 crore, which accounted for 59 percent of total land transacted between January to date.
As per Anarock’s estimate, Hetero Group acquired 600 acres of land, which happens to be worth Rs 350 crore. The development is yet unknown. Meanwhile, Microsoft has acquired 41 acres to set up their data center, and the cost of the land was worth Rs 164 crore.
According to Anarock’s research, at least 28 separate land deals took place between January 2022 and to this date. Of the total transacted land, 351 acres of land was acquired in 18 deals, set aside for multiple residential complexes. Three deals for 115 acres are proposed for data centers, while two deals for over 63 acres have been set aside for logistics and warehousing. Four deals for 108 acres have been put up for mixed-use developments.
A single, anonymous land deal has also happened in the country for 600 acres, though no details have come out as yet. Leading builders who acquired land include Godrej Properties, Oberoi Realty, Mahindra Lifespaces, Gaurs Group, Birla Estates, Hetero Group, Microsoft, and Mapletree Logistics, among others.
In comparison to H1 2021, the number of deals doubled. While 14 deals happened in H1 2021, 28 deals happened in H1 2022.