Dvok Buildcon Purchases 18-Acre Land in Manesar, Gurgaon for INR 310 Crore Amid Booming Real Estate Market

Gurugram-based real estate developer, Dvok Buildcon, has made a significant move in the real estate market by acquiring an 18-acre plot of agricultural land near Manesar, Gurgaon, for INR 310 crore. This strategic purchase is part of the ongoing trend of increased land acquisition in the region, driven by the booming demand in residential and commercial development. The company also paid INR 21.72 crore in stamp duty for the transaction, underlining the scale of this investment.

Land Acquisition Trends in India's Real Estate Sector

The Indian real estate market continues to experience a surge in land acquisitions, despite the already high residential demand. In the fiscal year 2022-23, a total of 88 land deals were concluded across various cities, covering approximately 1,886 acres. Large and listed developers, along with other entities, have been actively investing in land as part of their future development strategies.

2023-24: A Year of High Land Transactions

The trend of land purchases shows no signs of slowing down. In FY2023-24, developers and entities closed about 101 land deals, amounting to nearly 2,989 acres across the country. The residential segment continues to be the driving force behind the demand for land. Notably, the National Capital Region (NCR) recorded 29 land deals for 313 acres, followed by the Mumbai Metropolitan Region (MMR) with 19 deals for approximately 157 acres.

Surge in Land Purchases and Urbanisation in NCR

The National Capital Region, particularly around Manesar and Gurgaon, has seen a significant uptick in land transactions. The area is benefiting from rapid urbanisation, infrastructure developments, and increasing investment opportunities. This has made it one of the most sought-after regions for land deals. With a 58% increase in land transactions in FY2024 compared to the previous fiscal year, the NCR remains a hub for growth in India's real estate market.

Bengaluru Leads in Total Land Area Transacted

While the NCR has been a hotspot for land deals, Bengaluru also stands out with the highest number of acres transacted among the top seven cities. In FY2024, Bengaluru saw 14 land deals covering 490 acres. This highlights the diversity in real estate investment patterns across India's key markets, with both NCR and Bengaluru leading the charge.

Highlights:

• Dvok Buildcon purchases an 18-acre plot in Manesar, Gurgaon for INR 310 crore.
• Land deal includes a stamp duty payment of INR 21.72 crore.
• 2023-24 saw 101 land deals across India, covering 2,989 acres.
• NCR recorded 29 land deals for 313 acres.
• Bengaluru transacted 490 acres through 14 deals, the highest among top cities.
• A 58% increase in land purchases in FY2024 compared to FY2023.

This development by Dvok Buildcon underscores the growing real estate activity in Manesar and Gurgaon, driven by both residential demand and strategic investments in land for future growth.

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