Bagmane Group buys railway land for Rs 1,530 crore in Dwarka, Delhi
Bagmane Group
has acquired a 124,000-square metre railway land parcel at Sector 21,
Dwarka
, in
Delhi
for '1,530 crore, two people aware of the development said.
The Rail Land Development Authority (RLDA) had accepted Bagmane's bid to lease the land in 2023, but the deal was delayed due to the need to relocate trees from the site. The company has now identified a land parcel in Delhi for the relocation, the sources said.
The acquired land can be used for both residential (55%) and commercial (45%).
A new railway passenger terminal coming up adjacent to the site is expected to generate significant footfall in the area.
The Delhi-NCR market has traditionally been driven by sustained investor interest across both 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. Other than residential, commercial, retail, industrial and logistics and warehousing are also driving prime land deals in key locations across India.
Anshuman Magazine, chairman and CEO, India, Southeast Asia, Middle East, and Africa at real estate services firm CBRE, said the deal underscored deepening investor confidence in the sector. "We anticipate this momentum to strengthen through 2025, reinforcing India's position as one of the most resilient and opportunistic realty markets globally," he said.
Bagmane Group, a leading developer of
commercial real estate
with strong focus on technology parks and built-to-suit campuses, currently manages over 18 million sq ft of operational assets, with an additional 10-15 million square feet in various stages of planning and development.
With a growing presence in key cities including Bengaluru, Chennai, and Delhi-NCR, Bagmane is steadily building a diversified portfolio to position itself for a potential
Real Estate Investment Trust
(REIT) listing.
In March, Bagmane acquired
Cognizant Technology Solutions
' former India headquarters in Chennai for about '612 crore.
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