Mumbai is one of the most expensive real estate markets in India and is the country's financial capital. Even being a land shortage city, five massive land deals pricing more than ₹2,500 crore, were successfully closed in the city
Runwal Group Buys Land Worth ₹726 Crore, In Mumbai, From Nerolac Paints
In October 2024, Kansai Nerolac Paints, a manufacturer of paint and coating, disclosed that it had closed a big deal of land for ₹726 crore with Runwal Developers, its land parcel along with the building located in Lower Parel, Mumbai. On the acquired land, Runwal Group aims to create a luxury residential development, which could generate revenues of about ₹8,000 crore.
Equinix India buys 5597 sq m of land in Mumbai's Chandivali for ₹155 crore
In November 2024, Equinix India Pvt Ltd bought land in Mumbai’s well-known area, Chandivali. As per the property registration document published by CRE Matrix, a data center firm in the US, the deal was closed for ₹155 crores, and the land parcel is around 1.38 acres, reported by Hindustan Times. Planning the new data center of Equinix’s MB2 facility in this 5,386 sq. m. land parcel.
Mahindra and Mahindra Ltd sold a land parcel in Kandivali worth ₹210 crore
In July 2024, Mahindra and Mahindra Limited sold a land parcel in Kandivali, spanning over 20.5 acres for ₹210 crore. According to the property registration document published by CRE Matrix, Blueprintify Properties Pvt Ltd has bought this land. Blueprintify Properties company is a part of Rucha Group, a real estate firm in Pune. This land is in a vibrant locality of Mumbai.
Century Textiles purchased 10-acre land in Mumbai for ₹1100 crore from Nusli Wadia
In September 2024, Nusli Wadia sold a 10-acre land parcel in Mumbai’s Worli location for ₹1100 crore to CTIL (Century Textiles and Industries Limited), as per the property registration document published by Square Yards. It is expected that this land will be used for real estate development in Worli worth ₹14000 crore. This acquisition is in the prime location of Mumbai, which will be developed by Birla Estates Pvt Ltd, a fully-owned subsidiary. The company stated that Worli is leading the current boom in luxury real estate.
Shapoorji Pallonji group sold land in Mumbai for ₹455 crore
In November 2024, Agarwal Holdings Private Limited bought land in Mumbai’s well-known area, Juhu from Shapoorji Pallonji Group. As per the property registration document published by CRE Matrix, a data center firm in the US, the deal was closed for ₹455 crores, and the land parcel is around 19,589.22 sq ft, reported by Hindustan Times. The new acquisition is in the prime location of Mumbai, worth ₹455 crore.
Pan India land deals
As per the reports published by CRE Matrix, a real estate consultant, more than 100 land acquisitions spanning 1700 acres approximately, have been closed in major cities in India, posted by HT. There was a 65% year-on-year increase in land deals, up from more than 60 deals during the same period last year.
As per the recent report, Delhi-NCR tops the land dealing transaction in India, contributing 32% approximately. Having around 65% share from Gurgaon, the highest contribution, and Noida shares around 20%. Compared to the last year, this shows an annual increase of 65% approximately in the number of deals.
Bengaluru, Mumbai, and Chennai followed by Delhi-NCR have contributed a good number of land deals in India, with shares of approximately 22%, 12%, and 10%, respectively. These four cities in India collectively represented around 75% of the total land deal volumes from January to September 2024.