Biggest Land Transactions in India: A Look at 2024’s Game-Changing Deals

India’s real estate market has seen some of its most significant land transactions in 2024, showcasing the industry’s growth and resilience. From luxury residential developments to data centers and industrial hubs, these land deals are setting new benchmarks. 

Here are the top five land deals that have captured the spotlight this year:

1. Century Textiles: A Landmark ₹1,100 Crore Deal in Mumbai 

Aditya Birla Group’s Century Textiles and Industries made headlines with its ₹1,100 crore acquisition of a 10-acre leasehold land parcel in Worli, Mumbai, from Nusli Wadia, chairman of the Wadia Group. This transaction brings an end to a long-standing legal dispute over the property, paving the way for Birla Estates, the group’s real estate subsidiary, to develop the land into a luxury project with a revenue potential of ₹14,000 crore. The acquisition consolidates the company’s landholding in the area to a contiguous 30-acre parcel, offering an overall booking value potential of ₹28,000 crore. The flagship project, Birla Niyaara, launched earlier, has already achieved cumulative sales of over ₹5,700 crore, making this new development a much-anticipated addition to Mumbai’s high-end real estate market.

2. Puravankara Ltd: South Bengaluru’s ₹900 Crore Marvel 

Puravankara Ltd, a real estate developer based in Bengaluru, has recently acquired a 7.26-acre plot in the Hebbagodi area of the city. This land will be used to create a luxury residential project worth over ₹900 crore, covering around 7.5 lakh square feet. Hebbagodi, located near the well-known IT hub of Electronic City, is rapidly growing, and the company sees this as a promising area for high-end housing due to the limited supply of residential land in the market.

In addition to the Bengaluru project, Puravankara has been expanding its portfolio with another acquisition near Mumbai, which is set to offer a ₹5,500 crore development value. With these new additions, the company aims to keep growing its business, with plans to launch around 14 million square feet of new developments by FY25. Puravankara has seen impressive growth, with sales increasing by 90% in FY 2023-24, reaching ₹5,914 crore.

3. Sumadhura Group: Bengaluru’s ₹800 Crore Residential Boom

Sumadhura Group, a prominent real estate developer in South India, has recently acquired 40 acres of land in Bengaluru for around ₹800 crore. The company plans to develop four residential projects on these sites, which are located in high-growth areas of East and South-West Bengaluru. These projects, set to unfold over the next five years, will add up to six million square feet of housing space to meet the growing demand for homes in the city.

This move comes at a time when Bengaluru’s residential market is booming, with home prices rising and a significant increase in new residential unit launches. Sumadhura Group, which has over two decades of experience in the region, is confident that its deep understanding of the local market and the continued demand driven by the IT sector will fuel the success of these new developments. The company has already delivered over 50 projects and is currently working on up to 40 million square feet of upcoming developments.

4. Runwal Group: ₹726 Crore Deal for Luxury Project in Mumbai’s Lower Parel

Runwal Group, a prominent real estate developer, has recently acquired a land parcel along with a building in Mumbai's Lower Parel area for ₹726 crore from Kansai Nerolac Paints. This acquisition sets the stage for the development of a luxury residential project, with an estimated revenue potential of around ₹8,000 crore. The land, located in one of Mumbai's most sought-after locations, aligns with Runwal Group's focus on creating high-end living spaces in prime areas of the city.

Runwal Group is known for its expertise in residential and commercial developments, particularly in Mumbai. The company has a strong track record of delivering projects that cater to the growing demand for premium housing in the city. With this latest acquisition, Runwal Group aims to further strengthen its portfolio and continue shaping Mumbai's skyline with luxurious, world-class living spaces.

5. Oberoi Realty: ₹597 Crore Land Acquisition for Luxury Project in Gurugram

Oberoi Realty, a leading real estate developer based in Mumbai, has made its entry into the Delhi-NCR property market by acquiring nearly 15 acres of land in Gurugram for ₹597 crore. The land, located in Sector 58, will be used for a luxury residential project, marking a significant step for the company in expanding its footprint outside Mumbai. The development is expected to cover about 2.6 million square feet and will primarily focus on high-end housing, catering to the growing demand for premium homes in the NCR region.

Despite a slight dip in its sales bookings for the second quarter of the fiscal year, Oberoi Realty has seen a strong rise in profits, with a 43% increase in net profit, reaching ₹456.76 crore. The company reported a significant jump in total income, reflecting its ability to generate higher revenue. With this new venture in Gurugram, Oberoi Realty aims to bring its luxury housing expertise to the NCR market and further strengthen its position in the real estate industry.

Therefore, 2024 has been a landmark year for India's real estate sector, with several high-value land transactions reshaping the market landscape. These deals reflect the growing demand for luxury residential projects, as well as the expansion of developers into new, high-potential regions. From Mumbai’s iconic properties to Bengaluru’s residential boom and the emergence of new hubs like Gurugram, the industry’s resilience and capacity for growth are evident. As developers continue to secure prime land parcels and invest in large-scale projects, these acquisitions are setting new standards for the future of real estate in India, paving the way for innovative developments that will meet the evolving needs of the market.