Zomato's Deepinder Goyal Was Delhi's Biggest Land Buyer Last Year: Here's How Much It Cost Him

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Zomato CEO Deepinder Goyal has emerged as the buyer in Delhi’s biggest land deal last year.

What Happened: Goyal, the founder of Zomato, purchased a five-acre property in Dera Mandi, Delhi, for ₹79 crore between January and March 2024, CNBC-TV18 reported. This was on account of the fact that only one large land deal took place in Delhi as opposed to the rest of the National Capital Region (NCR), comprising New Delhi, Gurugram and Noida.

Most of the top land buyers, 25 out of 29, were real estate developers planning residential complexes on the acquired land.

In the NCR, a total of 29 land deals took place in the fiscal year ending March 2024. Among these, 22 transactions were concentrated in Gurugram.

See Also: Zomato Shares Jump As Global Brokerage Hikes Target Price

Other Big Buyers: In a significant transaction in 2023, Godrej Properties acquired a 7.91-acre parcel on Golf Course Road in Gurugram for ₹900 crore, part of a larger acquisition spree totaling ₹1,803 crore in Gurugram and Noida. DLF Homes Developers purchased 29 acres on Golf Course Ext Road in Gurugram for ₹825 crore in the last quarter of FY24.

Data from Anarock showed that a total of 314 acres changed hands in these deals, compared with 273.9 acres in 23 transactions the previous year. Experion Developers engaged in four land deals in Gurugram and Noida, valued at ₹1,650 crore.

Notably, Gameskraft Technologies Private acquired 8.61 acres in Gurugram’s Balola village for ₹90 crore for “educational purposes.”

In terms of highlights for the fiscal year ending March 2024, Gurugram saw 208.2 acres transacted in 22 deals, with 20 of these designated for residential development. Two land deals, each spanning over 7 acres, were earmarked for commercial real estate projects.

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Posted In: NewsAsset SalesReal EstateDeepinder GoyalZomato