Land Buying

Land deals on upswing; 721 acres closed in Jan-Mar: Anarock report

Builders and other entities have closed at least 29 land deals involving 721 acres during January-March this year to expand their businesses amid surge in demand especially for housing, according to Anarock. During the entire 2023-24 fiscal, property consultant Anarock said that real estate developers and other entities have closed 101 land deals, cumulatively accounting for 2,989 acres. Land deals in terms of acres have increased 61 per cent annually in January-March 2024 and 58 per cent annually in 2023-24. At least 26 land deals for around 449 acres were closed during January-March 2023, while 88 land deals for 1,886 acres were struck during the full 2022-23 fiscal. These land deals, which were struck across major tier I, tier II and tier III cities, include outright purchase-sale transactions and also partnerships with landlords called Joint Development Agreements (JDAs). Anarock Chairman Anuj Puri said, "Out of the total land deals in 2023-24, over 83 deals for about 1,135 ac

Omaxe Group acquires over 5 acres of 'prime' land in Ludhiana for Rs 220 cr

Realty firm Omaxe Group on Tuesday said it has acquired over 5 acres of land in Ludhiana, Punjab for Rs 220 crore. In a statement, Omaxe said it has "secured more than 5 acres of prime land... through a competitive bidding process conducted by the Rail Land Development Authority (RLDA)." The acquisition was finalised at a bidding amount of Rs 220 crore, it added. Omaxe will develop both residential and commercial projects on this land parcel. "This acquisition aligns perfectly with our strategy to strengthen our presence in key markets and contribute to the growth of Ludhiana's real estate sector," Jatin Goel, Executive Director, Omaxe Group, said. Omaxe has delivered over 132 million square feet of realty space. It has delivered 21 group housing real estate projects, 10 integrated townships, and 14 commercial projects ( malls/office spaces/hotels/SCOs). The group has another 22 million sq ft of space under construction. This includes seven ongoing integrated townships, five gro

Punjab vigilance bureau books Manpreet Badal, 5 others in land buying case

The Punjab Vigilance Bureau has registered a case against former state finance minister Manpreet Singh Badal and five others in connection with alleged irregularities in the purchase of a property in Bathinda, a top official said on Monday. Apart from Badal, who is now a BJP leader, and former Bathinda municipal corporation commissioner Bikramjit Shergill, the other four booked in the case on Sunday night have been identified as Rajiv Kumar, Amandeep Singh, Vikas Arora and Pankaj, the official said. Rajiv Kumar and Amandeep Singh have been arrested, the officer added. The bureau had launched an investigation into the matter based on former MLA Sarup Chand Singla's 2021 complaint alleging irregularities in the purchase of the property at a prime location in Bathinda. BJP leader Singla, who was earlier with the Shiromani Akali Dal, had alleged that Badal, as a minister in the previous Congress dispensation, had abused his position to convert commercial plots into a residential plot f

Uttar Pradesh plans to buy 43,000 acres of land for Rs 7.3 trillion

According to estimates, the state requires about 6.4 million new housing units in the urban and suburban centres in the next five years to meet the target

SC upholds Bombay HC order quashing property tax opposed by developers

Real estate developers say they paid exorbitant amounts to municipality as Land Under Construction Tax

Metaverse in India: The challenge of buying land and painting houses

VR headsets are gradually becoming somewhat accessible, with an Oculus Go priced at Rs 22,000. Several start-up founders say they are also developing software for laptops and mobile devices.

Don't lose the plot while buying land: Hire a lawyer to verify legal title

Plots don't age, offer better RoI than apartments

Mahindra Lifespace goes aggressive in buying land parcels for new projects

Analysts expect its sales bookings value to grow 39 per cent on compound annual growth rate (CAGR) basis between FY21 and FY25

NHAI paves way for easy land buy with sops to ex-officials

Move aimed at reducing time taken in acquisition process; incentive linked to pre-defined stages of land acquisition