Around 111 land deals covering over 2,994 acres were closed across the country in FY2026, marking a decline from 143 deals in FY2025, but with a sharper concentration of activity among large, organised players, shows data analysed by real estate consultancy firm ANAROCK.
What stands out is the growing control of listed developers. These players accounted for 54 deals spanning over 1,433 acres, translating to a 49% share of total deals and 48% of total land transacted area—up significantly from a 40% share in the previous fiscal.
In terms of cities, NCR witnessed a notable change in its overall new supply share in the FY 2026. Out of the total new unit supply in NCR in FY 2026, at least 66% was by the listed and Grade A companies. Smaller and unorganized developers comprised
Among the leading listed players, Godrej Properties led the pack with 17 deals across 443.5 acres, followed by Brigade Group with 8 deals over nearly 81 acres.
Bengaluru emerged as the prime hotspot for listed-player land acquisition activity in FY 2026, with around 17 deals for 293+ acres closed in the city.
Pune saw a total of 8 land deals for approx. 78 acres closed, while MMR came a close second with 7 land deals for 51+ acres.
Chennai and Hyderabad witnessed 5 land deals each, for 74+ acres and 38 acres, respectively.
NCR closed 2 land deals for 18.6 acres; Kolkata witnessed one land deal for 5 acres by listed realty players.
Among the top tier 2 & 3 cities to attract listed players, Amritsar saw 2 land deals for a whopping 520 acres closed in FY 2026.
Vadodara, Nagpur, Panipat, Mysore, Raipur, and Coimbatore also saw land deals concluded by listed players.
“Land acquisition is increasingly becoming both capital-intensive and regulation-driven in the last few years,” said Anuj Puri. “In this scenario, listed developers have a clear edge over unorganized or smaller players, thanks to their easier access to institutional capital and transparent balance sheets. While the total number of land deals dropped from 143 in FY2025 to 111 in FY2026, the land buying activity of these dominant players remained remarkably resilient.”
“Despite the broader market slowdown, these entities closed 54 land deals in FY 2026, nearly matching the 57 deals from the previous fiscal year. This resilience has led to a significant jump in market share. In FY2025, listed developers accounted for 40% of all land deals; in FY2026, that figure climbed to 49%,” added Puri.
An analysis of the total new housing supply (units) across the top 7 cities in FY 2026 shows that the share of the listed and Grade A developers combined stayed high at 45%. Back in FY 2025, this share was slightly lower at 43%.
In terms of cities, NCR witnessed a notable change in its overall new supply share in the FY 2026. Out of the total new unit supply in NCR in FY 2026, at least 66% was by the listed and Grade A companies. Smaller and unorganized developers comprised a 34% share.
Consolidation despite slowdown
While the overall number of land deals declined in FY2026, listed developers showed remarkable resilience. Their deal count remained largely stable—54 deals in FY2026 versus 57 in FY2025—indicating that the slowdown has disproportionately impacted smaller, unorganised players.
This divergence points to a structural shift in the market. As regulatory complexity increases and capital requirements rise, larger developers are gaining a competitive edge, consolidating their position in the land market.
City-wise supply dynamics highlight shifting preferences
The share of listed and Grade A developers in new launches varies significantly across cities:
-
NCR: 66% -
Bengaluru: 53% -
Chennai: 58% -
Pune: 45% -
Hyderabad: 38% -
Kolkata: 41% -
MMR: 24%
Luxury housing adds another layer of dominance
The report also highlights how listed developers are capitalising on the growing demand for ultra-luxury and branded residences, particularly in NCR.
This trend is:
-
Raising entry barriers -
Marginalising smaller developers -
Increasing concentration in the premium segment
What lies ahead: Calibrated launches expected
Despite aggressive land acquisition, developers may adopt a more cautious approach going forward.
With:
Global macroeconomic uncertainty
Moderation in housing sales
…developers are expected to:
Pace new project launches more carefully
This suggests that while land banking remains strong, supply additions could be more measured in the near term.