Realtors cash in on growth opportunity in smaller cities
Homebuyers' interest in plotted developments has spiked, particularly after the outbreak of Covid-19 pandemic. The buoyant demand for warehousing has also pushed finalisation of land deals higher. During the 22-month period from January 2022 to October 2023, real estate developers purchased about 3,294 acres of land. A substantial proportion, or 44.4%, of these land deals was transacted in tiers II and III locations, with 1,461 acres being acquired in 17 land deals, according to a JLL India study.
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