According to real estate consultant Anarock, there has been a surge in land deals in 2023, with 59 transactions totaling up to 2,018 acres being finalized. The increase in demand for residential and commercial buildings in the post-pandemic period is driving real estate developers to expand their businesses.
Chairman of Anarock, Anuj Puri, revealed that their recent research indicates the completion of 59 property sales, covering more than 2,018 acres, from January to August 2023. These land parcels are being increasingly utilized for the construction of manufacturing facilities and hospitals, signaling a potential shift in the real estate market.
With the global pandemic drastically changing the way people live and work, the demand for real estate has seen a significant shift. As businesses adapt to remote work and hybrid models, the need for residential and commercial spaces has evolved. Real estate developers are capitalizing on this changing landscape, seeking opportunities to cater to the new demands in the market.
The utilization of land for manufacturing facilities also reflects a growing trend of setting up production units within the country. This shift is fueled by factors such as government initiatives promoting local manufacturing and a focus on reducing dependence on imports.
The surge in land deals and diverse usage of these parcels indicate the resilience and adaptability of the real estate sector. Developers are not only meeting the demand for housing and commercial spaces but are also contributing to the growth of other industries, such as manufacturing and healthcare.
Source: Anarock (no URL provided)