Land acquisitions by real estate developers in India declined 56% year-on-year in terms of total acreage during the first nine months of 2026, reflecting a more selective approach towards land purchases and project expansion. Rising land costs, changing project economics and a greater focus on development feasibility are influencing acquisition strategies, with developers increasingly considering joint development agreements (JDAs) instead of outright land purchases.
According to Anarock Research & Advisory, developers concluded 76 land transactions covering approximately 1,445 acres between January and September 2026. In comparison, 99 transactions covering nearly 3,292 acres were recorded during the corresponding period of 2025. The decline indicates a moderation in land acquisition activity, particularly involving large land parcels.
The changing trend also highlights a shift in how developers are accessing land for residential and commercial projects. Rather than committing substantial capital towards outright purchases, developers are increasingly entering into partnerships with landowners to undertake development projects.
Joint Development Agreements Gain Share in Land Transactions
Joint development agreements accounted for one in every four land transactions recorded during the first nine months of 2026. Of the 76 deals completed during the period, at least 19 were structured as JDAs.
The growing preference for this model is also evident in the longer-term transaction data. The number of JDA transactions increased from 10 in 2022 to 30 in 2025. Their share of overall land deals rose from approximately 12% in 2022 to nearly 24% in 2025 and further to 25% during 9M 2026.
Under the JDA model, developers collaborate with landowners to develop a property instead of acquiring the entire land parcel through an outright purchase. The arrangement allows developers to access land while reducing their initial capital commitments, with both parties sharing the agreed development benefits.
Mayank Saksena, MD and CEO, Land Services, Anarock Group, said the first nine months of 2026 recorded 76 land deals covering around 1,445 acres, indicating a more cautious and selective acquisition strategy.
He added that developers are increasingly turning to JDAs with existing landowners as project economics become more important. Such arrangements allow developers to undertake projects through partnerships rather than committing substantial funds towards direct land purchases.
Large Land Transactions Record Sharp Decline
Transactions involving land parcels measuring 50 acres or more witnessed a significant decline during the reporting period. The number of such deals fell from 12 in 9M 2025 to just five in 9M 2026. The combined acreage covered by these transactions also declined from approximately 2,398 acres to 588 acres.
Between 2022 and 9M 2026, India recorded 516 land transactions covering approximately 12,958 acres. While 2024 witnessed the highest number of transactions, with 133 deals spanning more than 2,515 acres, 2025 recorded the highest cumulative acreage. During that year, 126 transactions covered approximately 3,772 acres.
Tier-II and Tier-III Cities Attract Larger Land Parcels
Although established metropolitan markets continue to account for most land transactions, some of the largest acquisitions are increasingly taking place in Tier-II and Tier-III cities.
The largest individual transactions recorded between 2022 and 9M 2026 included a 714-acre deal in Coimbatore, a 600-acre acquisition in Hyderabad and two major transactions in Ahmedabad covering 500 acres and 440 acres, respectively.
In terms of cumulative land acquisitions, Mumbai Metropolitan Region (MMR) led with approximately 2,798 acres, followed by the National Capital Region (NCR) with 2,012 acres and Bengaluru with 1,679 acres.
The seven established metropolitan markets, comprising MMR, NCR, Bengaluru, Hyderabad, Pune, Chennai and Kolkata, accounted for approximately 86% of the 516 transactions recorded during the period. However, these markets represented only around 57% of the total 12,958 acres transacted. This indicates that while smaller and mid-sized land deals remain concentrated in established cities, larger parcels are increasingly being acquired in emerging markets.
Gujarat Emerges as a Major Market for Large Acquisitions
Of the 516 transactions recorded between 2022 and 9M 2026, 61 involved land parcels measuring 50 acres or more. These transactions accounted for approximately 63% of the total acreage acquired during the period. Nearly half of these deals, comprising 29 transactions, took place outside the seven established metropolitan markets.
Gujarat emerged as a major destination for large land acquisitions, with Ahmedabad, Surat and Vadodara together accounting for approximately 2,020 acres, representing nearly 16% of the total tracked acreage.
Coimbatore recorded around 770 acres, while Amritsar, Nagpur, Panipat and Ludhiana also featured among the leading markets in cumulative land acquisitions despite recording relatively fewer transactions.
Industry Experts Opinions
Mr. Suresh H. A., Managing Director, Sanjeevini Group, a Bengaluru-based real estate firm, said, “The land acquisitions activity during the first nine months of 2026 reflects a more disciplined and feasibility-driven approach by developers across the country. The market is witnessing a clear shift from aggressive land banking towards strategic acquisitions.
Developers are increasingly prioritising parcels with strong connectivity, established social infrastructure, clear development potential and sustainable demand prospects. The growing preference also indicates that developers are becoming more conscious of capital deployment and project-level risks.
In Bengaluru, this trend is particularly relevant as the city’s growth continues to be driven by its technology ecosystem, GCC expansion, infrastructure development and steady end-user housing demand. Bengaluru remains among the country’s leading land markets. However, the focus is increasingly shifting towards strategically located parcels along established and emerging growth corridors rather than large-scale speculative acquisitions. JDAs offer developers an opportunity to access well-positioned land parcels while optimising upfront capital commitments. Going forward, we expect land transactions to remain selective, with developers favouring locations that offer a clear demand pipeline, infrastructure visibility and the potential for timely project execution.”
Mr. Lalit Parihar, Managing Director, Aaiji Group, a real estate firm, a Gujarat-based real estate firm, said, “The trend reflects a sign of greater maturity in India’s real estate market. Developers are becoming more selective about land economics, project viability and future absorption potential. The rise in JDAs reflects an evolving development model in which landowners and developers are collaborating to unlock land value while distributing capital commitments and development risks. This approach is particularly relevant in a market where land costs, construction expenses and the need for financial discipline play an important role in project planning.
Ahmedabad presents an interesting case within this national trend highlighting the impact of a few large transactions on the city’s overall acquisition numbers and reflecting the availability of sizeable development opportunities in select growth pockets. With Ahmedabad benefiting from infrastructure expansion, industrial development, improving connectivity and growing residential demand, the city’s land market has considerable long-term potential. However, developers are likely to remain focused on locations with strong economic drivers and clear end-user demand. We expect JDAs and other partnership-led models to gain further traction, particularly for large land parcels, while outright acquisitions will increasingly be guided by location advantage, pricing discipline and development feasibility.”
The overall trend points to a shift in India’s real estate land acquisition market. While developers continue to focus on established metropolitan locations, emerging cities are attracting larger land parcels. At the same time, the increasing use of JDAs reflects developers’ preference for capital-conscious expansion strategies, with project feasibility and land acquisition costs playing a greater role in investment decisions.
