Gautam Adani or Nusli Wadia? who did India’s most expensive land deal, residential property deal and record-breaking transactions across…

India’s real estate market in 2024 showcased robust growth and innovation, from high-value luxury property deals to significant investments in infrastructure and redevelopment projects.

India’s real estate market witnessed several landmark deals in 2024, setting new benchmarks in residential, commercial, retail, and warehousing sectors. Data from property consultancy firm CRE Matrix highlights these remarkable milestones, from ultra-luxury home sales to massive redevelopment projects.

India’s Most Expensive Residential Property Deal

The promoters of Metro Group made headlines by purchasing a home in Mumbai’s iconic Palais Royale for Rs 405 crore. This sale marks a 31% growth compared to 2023’s most expensive home transaction. Spanning 38,390 square feet of carpet area, this property is officially the largest residential deal of 2024.

CRE Matrix’s ‘Best of the Best 2024’ Report

Biggest Residential Project Launch: Jaykay Infra launched a massive residential project in Bengaluru’s Narsingi, spanning 4.38 million square feet and comprising 2,480 units, making it the largest launch of the year.

Most Expensive Land Deal: A 10-acre plot in Mumbai’s Lower Parel was sold for Rs 1,100 crore in a transaction between Century Textiles and Industries and Nusli Neville Wadia.

Redevelopment Projects By Adani

Largest Redevelopment Deal: Adani Properties won the bid to redevelop Dharavi, Mumbai’s notified slum area, with a bid of Rs 5,069 crore, making it one of India’s biggest-ever redevelopment projects.

Most Expensive Retail Lease: Sunglass Hut leased a 414-square-foot retail space in Gurugram’s DLF Galleria at an unprecedented ₹1,812 per square foot.

Largest Mall: Bengaluru saw the construction of the M5 E-City Mall, spanning 680,000 square feet, becoming the largest retail space built in 2024.

Largest Office Lease: Amazon leased 1.1 million square feet of office space at Satva Horizon in Bengaluru’s Yelahanka at Rs 65 per square foot, marking a 75% growth over 2023’s largest office deal.

Most Expensive Office Purchase: Ivory Property Trust acquired an 11,399-square-foot office space in Mumbai’s Tardeo from AAA Holding Trust at Rs 1,50,397 per square foot, a 52% increase from 2023’s most expensive office transaction.

Largest Office Construction: Oberoi Realty’s Commerce III project in Mumbai’s Goregaon spans 2.32 million square feet, emerging as the year’s biggest office development.

Warehousing Deals

Largest Warehousing Lease: Schneider Electric leased a massive 999,932-square-foot space at RKV Logistics Park, Anekal, Bengaluru, reflecting a 12% growth compared to 2023’s largest leasing deal.

Loan and Financing Deals

Largest Loan Approval: Brookfield secured an Rs 11,000 crore loan from State Bank of India, Punjab National Bank, and Bank of Baroda. With a 30-year tenure and an 8.38% interest rate, this deal represented a 57% growth over 2023’s biggest loan approval.

Highest Loan Interest Rate: Rajpushpa Properties obtained a Rs 100 crore loan for its Hyderabad projects at a steep 24% interest rate, despite a 40% drop compared to 2023.

These record-breaking transactions reflect the sector’s dynamism and promise for the future.