Chartered Accountant
194 Points
Joined November 2011
It would depend on the activity the depositor undertakes. If the depositor is a real estate investor, the deposited funds would be regarded as an Operating Activity.
Whereas, if the depositor, like Ankita mentioned, doesn't incur such an expense on a recurring basis, it will be an Investing acitivty.
It could also be a financing activity, in the extreme case in which, the amount deposited to the land owner takes the form of a loan.
Hence, while making a cash flow statement, one has to bear in mind that each activity is subjective with respect to the context of the transaction. You need to analyze it based on what you've been provided with in the question.
Generally, though, it would be an Investing activity if nothing else has been mentioned in the question.