Broad Steps Involved in Private Land Acquisitions for Real Estate Developments: A Literature Overview

Real estate developments can take place only when land parcels are available. Land acquisition is the process by which private developers or government agencies purchase privately held land parcels against compensation. The author with an experience of more than two decades in this field and being part of several land transactions, provides an overview in this article about the major steps involved in acquisition of land parcels by private real estate developers. The method of this study is literature review. Each step is explained with reference to the literatures available for the research works happened in the past. Beginning with a pre-acquisition evaluation of the land site, it goes on discussing risk assessment, then feasibility analysis, and finally concludes with deal closure. Key elements of the definitive agreement are captured in this paper. Emphasis has been placed on the necessity of doing due diligence in real estate purchases. In the end, the process of registration of the conveyance deed and delivery of possession of the land from the seller to developer is discussed. This study summarizes the key steps in land acquisition for real estate development.