Bagmane Group Acquires 124,000 Sq. Meter Railway Land in Dwarka, Delhi for ₹1,530 Crore
Bagmane Group, a prominent Bengaluru-based real estate developer, has successfully acquired a 124,000 square meter parcel of railway land in Sector 21, Dwarka, Delhi, for ₹1,530 crore. This acquisition marks a strategic expansion for the company in the growing Delhi-NCR real estate market, known for its strong investor demand across residential, commercial, and industrial sectors.
The Rail Land Development Authority (RLDA) had initially approved Bagmane’s bid for the land in 2023. However, the transaction faced delays due to the requirement to relocate trees from the site. The company has now secured an alternative location in Delhi for the relocation process, allowing the deal to proceed. This acquisition further highlights the company's growing presence in prime locations across India.
The newly acquired land is slated for mixed-use development, with 55% of the land dedicated to residential projects and the remaining 45% earmarked for commercial use. The site’s proximity to a new railway passenger terminal being constructed nearby is expected to attract significant foot traffic, benefiting both residential and commercial developments. The area’s well-connected transportation network and ongoing infrastructure improvements are expected to enhance the site’s appeal to investors and potential residents alike.
The Delhi-NCR region continues to see sustained investor interest, particularly in the real estate sectors experiencing unprecedented residential demand. Large developers and publicly listed companies are actively acquiring land in emerging areas of the region, driven by the city’s growing economy and population.
Bagmane Group has established itself as one of the key players in commercial real estate development, with a strong focus on technology parks and built-to-suit campuses. The company currently manages over 18 million square feet of operational assets, with an additional 10-15 million square feet under development in cities such as Bengaluru, Chennai, and Delhi-NCR.
The recent land acquisition in Dwarka, Delhi, reflects the group’s ongoing strategy of diversifying its portfolio and expanding its footprint in key urban centers. Bagmane Group is also preparing for a potential Real Estate Investment Trust (REIT) listing, which would further bolster its financial position and growth trajectory.
In March, the company also acquired the former India headquarters of Cognizant Technology Solutions in Chennai for ₹612 crore, marking another significant milestone in its expansion strategy. These acquisitions reflect Bagmane Group’s commitment to positioning itself as a leading player in India’s rapidly evolving real estate market.
The acquisition of land in Dwarka is part of a broader trend in India’s real estate sector, which continues to see high levels of investor confidence. Anshuman Magazine, Chairman and CEO for CBRE India, Southeast Asia, the Middle East, and Africa, highlighted that the growing demand for residential and commercial properties in prime locations is indicative of the country’s resilience as one of the most opportunistic real estate markets worldwide.
