Deepinder Goyal, the founder and CEO of popular food delivery platform Zomato, has made one of the biggest land purchases in Delhi. According to a new report, Goyal bought a whopping 5 acres of land in the national capital for a staggering Rs. 79 crores.
The land is located in Delhi’s Dera Mandi area. The deal, closed in the financial year 2024, makes it the largest individual land transaction in Delhi. Data from real estate consulting firm Anarock revealed that while 29 land deals were closed in Delhi-NCR overall in FY2024, spanning 314 acres, Goyal’s 5-acre purchase was a standout.
So why did Goyal invest such a huge amount in land? As the head of a major tech company, it’s likely he sees long-term value and growth potential. By purchasing commercial land in India’s capital city, Goyal is positioning Zomato for expansion. The company may be planning to set up new offices or logistics facilities on the property.
Some industry experts believe Goyal made the purchase with his own personal wealth, not Zomato’s funds. However, landing such a large land bank in Delhi could certainly help Zomato for business needs down the line. The location in Dera Mandi is also strategically good, being well connected to the city.
Goyal was not the only big buyer of land parcels in Delhi-NCR last fiscal year. Major listed developers like Godrej Properties, Experion Developers, DLF Homes and Prestige Group were also active in the region. Godrej acquired several prime properties for residential and commercial projects.
Godrej purchased a 7.91 acre plot in Gurugram for Rs. 900 crores. It also bought land in Noida (14.8 acres for Rs. 403 crores) and another plot in Noida Sector 44 (6.46 acres for approx. Rs. 500 crores). Experion Developers invested over Rs. 1,400 crores in 5 different land deals across Delhi-NCR.
DLF Homes acquired a large 29-acre land parcel in Gurugram for Rs. 825 crores. And Prestige Group spent more than Rs. 400 crores for a massive 62.5 acre plot in Ghaziabad that will be developed as a township.
Overall, Anarock data showed that about 26 of the 29 land deals inked in Delhi-NCR last fiscal year spanning 298 acres were meant for future residential and township projects. This indicates strong demand and future growth prospects for real estate in the region. Goyal’s big-ticket purchase of prime Delhi land reflects this trend and his company’s long-term vision. It will be interesting to see how Zomato utilizes the property in the coming years.
