According to reports, Bengaluru-based Bagmane Group has acquired a 124,000-square-metre land parcel in Sector 21, Dwarka, from the Rail Land Development Authority (RLDA) for Rs 1,530 crore. The RLDA had approved Bagmane's bid to lease the railway land in 2023. However, the transaction was delayed due to environmental concerns, specifically the need to relocate trees from the site. As per the report, the company has now identified an alternative location in Delhi for the tree relocation, paving the way for the project to move forward.
The acquired land can be used for residential (55%) and commercial (45%). A new railway passenger terminal adjacent to the site is expected to generate significant footfall.
The Delhi-NCR market has traditionally been driven by sustained investor interest across traditional and emerging real estate segments. Amid all-time high residential demand, several large and listed developers and other entities continued to snap up land. In addition to residential, commercial, retail, industrial, and logistics warehousing, they are also driving prime land deals in key locations across India.
Anshuman Magazine, Chairman and CEO of India, Southeast Asia, Middle East, and Africa at CBRE, said, "We anticipate this momentum to strengthen through 2025, reinforcing India's position as one of the most resilient and opportunistic realty markets globally."
