India land deals reach Rs 54,818 crore in 2025, JLL says

Developers across India bought 3,093 acres of land in 149 transactions worth Rs 54,818 crore in 2025, a 32 percent rise on the year before, according to the JLL land report released in April 2026. India land deals at that scale point to a strong land buying cycle, and the land bought is expected to unlock nearly 229 million sq ft of residential, office and mixed-use development across 20 major cities over the next two to five years.

The JLL land report shows a sharp split between big cities and smaller ones. Tier I cities took 89 percent of the capital spent on land while accounting for only 52 percent of the land bought by area. Tier II cities accounted for 48 percent of the land bought by area but drew only 11 percent of the investment value. That gap reflects higher land prices in the metros and lower land costs in emerging markets such as Ahmedabad, Amritsar, Ayodhya, Indore, Lucknow, Nagpur and Vadodara.

Homes drive India land deals in 2025

Residential land remains the biggest driver of India land deals. Nearly 78 percent of the land bought, around 2,398 acres, has been set aside for housing projects. Building on those parcels will need construction spending of more than Rs 72,000 crore. Across all uses, developing the land bought in 2025 will need more than Rs 92,000 crore in construction capital, with outside funding needs estimated at over Rs 52,000 crore. JLL said that funding will likely come from bank loans, alternative investment funds, private credit providers and institutional investors.

Individual landowners dominated the supply side of India land deals, accounting for 65 percent of total transactions. Developers are also looking at data centres and logistics parks alongside housing and offices, the report said. Lata Pillai, senior managing director and head of capital markets at JLL India, said: "2025 has been a record-breaking year for India's real estate sector, with developers acquiring approximately 3,000 acres of land across 20 major cities and investing close to Rs 55,000 crore, a clear reflection of tremendous market confidence."

Tier II cities take nearly half of India land deals by area

The momentum in India land deals carried into 2026. Around 900 acres were bought across key markets in the first quarter of 2026, valued at nearly Rs 18,000 crore. The Mumbai Metropolitan Region recorded the country's biggest land deal by value in that quarter, with an 11-acre parcel changing hands for Rs 5,400 crore, about Rs 490 crore per acre. Tier II cities on the JLL list include Ahmedabad, Amritsar, Aurangabad, Ayodhya, Ballari, Goa, Indore, Lucknow, Mohali, Nagpur, Panchkula, Raipur, Satara and Vadodara.

Tier I cities are expected to absorb nearly 89 percent of the capital needed for upcoming development, because project costs and premium housing demand are higher in the metros. Residential land accounts for about 76 percent of total funding needs for the new parcels. Office development has a projected capital need of about Rs 8,700 crore, which points to continued demand for Grade A office space.

The 2025 figures leave developers holding a large pipeline of land bought at high prices. How fast that land turns into launched projects, and how much of the Rs 92,000 crore construction capital bill gets funded, will decide whether the India land deals of 2025 become homes and offices or stay on balance sheets.