Srinagar, Sep 28: Official data presented before the Jammu and Kashmir Legislative Assembly shows that 631 non-residents have purchased 386 kanals and 128 square feet of land in the Union Territory since 2019, involving transactions worth ₹129.97 crore.

The data from the Revenue Department shows that 378 non-residents purchased 212 kanals, 13 marlas and 128 square feet of land in the Jammu region, while 253 buyers acquired 173 kanals and seven marlas in Kashmir.

The figures cover land transactions recorded following changes made in 2019 to the legal framework governing land ownership in Jammu and Kashmir.

Year-wise data shows that one non-resident purchased one kanal in 2020 for ₹10.06 lakh. The number increased to 57 buyers in 2021, 127 in 2022, 119 in 2023, 169 in 2024 and 158 in 2025.

In 2025 alone, non-residents purchased 106 kanals, 11 marlas and 201 square feet of land for a reported consideration of ₹37.17 crore.

Around 350 of the 631 purchasers were reported to be residents of Ladakh, which became a separate Union Territory in 2019. Other buyers came from states and Union Territories including Delhi, Haryana, Uttar Pradesh, Maharashtra, Punjab, Jharkhand and Bihar.

The data also indicates that 11 buyers from Delhi purchased land in Kashmir, while one buyer from West Bengal appeared in the records.

While most transactions involved relatively small parcels, some larger purchases were also reported in Srinagar. Delhi-based Luxury Resorts Pvt Ltd was reported to have purchased three parcels measuring 22 kanals, three kanals and six kanals at Chatterhama, with the combined area amounting to 31 kanals. Another purchaser, identified as H.G. Chawla, was reported to have acquired 15 kanals at Harwan.

The issue has also become part of the ongoing political debate over land transactions involving non-residents. Apni Party president Altaf Bukhari had alleged that a Mumbai-based businessman identified by him as Chawla was permitted to purchase land at Syedpora for a hotel project. He had also alleged that a Delhi-based company acquired 150 kanals at Chatterhama in the Hazratbal area.

Separately, a major government-land transaction at Sangarmal in Srinagar has brought corporate participation in prime commercial property into focus.

Around 45 kanals of Srinagar Development Authority land surrounding the Sangarmal City Centre were put up for an online forward-bidding process. The successful bid reached ₹421.75 crore, with Parmesh Construction Company Ltd emerging as the successful bidder as part of a consortium involving J&K-based Pahalgam Green Hotels and Bhutani Infra Ltd.

Unlike the private purchases listed in the Revenue Department data, the Sangarmal property was not sold outright. It was offered on a full-lease basis for development.

The bid was opened on August 25 and closed in the early hours of August 26, with the final offer reportedly exceeding the government's initial expectations.

The J&K Land Grants Rules, 2022 define a lease as an arrangement through which the lessor grants the use and occupation of land for a specified purpose and period in return for consideration. The rules also allow companies and other business entities to become lessees.

The Sangarmal auction therefore represents a government-land lease arrangement and does not form part of the 631 private land purchases recorded since 2019. However, the participation of Parmesh Construction in the consortium has added another dimension to the debate over outside corporate involvement in commercial property in Srinagar.

Three bidders reportedly participated in the auction. Parmesh Construction emerged ahead of the second-highest bidder, Construction Engineers, while Garuda Construction and Engineering Ltd was also among the participants.

The Sangarmal property is located close to prominent areas including the Kashmir Golf Course, Polo View and Lal Chowk.

The Sangarmal complex was developed as a major commercial destination but remained substantially underutilised for several years. Its commercial facilities include shops, Craft Bazaar spaces, kiosks, food courts, a restaurant and office spaces.

The latest lease arrangement is aimed at facilitating redevelopment of the surrounding land and supporting the revival of the stalled commercial project.

The available records point to two separate forms of outside participation in J&K's property market. One involves private land purchases recorded by the Revenue Department, while the other involves government-owned land being offered through a lease for commercial development.

The publicly available data does not provide a complete name-wise list of all 631 non-resident purchasers. It also does not establish that every transaction was undertaken for commercial purposes.