Land deals drop 57% to 325 acres in Apr-Jun on high prices: Anarock

Land acquisitions remained muted during April-June, and only 25 deals covering 325 acres were closed during this period, mainly due to high prices and general elections, according to Anarock.

In contrast, there were 29 land deals closed in the year-ago period, comprising 721 acres.

Real estate consultant Anarock pointed out that the general elections and the heated land prices seem to have dented the appetite for land acquisition for developers and other entities in the second quarter of 2024.

The number of land deals closed in Q2 (April-June) 2024 came down to 25 transactions for around 325 acres.

Prashant Thakur, Regional Director & Head - Research & Advisory, Anarock Group, said Bengaluru topped in the number of land deals.

"The city (Bengaluru) saw 9 separate deals for approximately 114 acres closed in Q2 2024," he added.

Gurugram saw the closure of as many as 7 deals for over 77.5 acres.

Of the total land deals closed in April-June, over 17 have been proposed for ...