Published: Published Date – 05:49 PM, Fri – 3 September 21
Hyderabad: Contrary to widespread perception, the newest CII-Anarock Consumer Sentiment Survey reveals that over 69 per cent house seekers favour properties above Rs 45 lakh worth vary.
For the primary time, reasonably priced housing is the bottom precedence, with greater than 34 per cent respondent house seekers targeted on properties priced between Rs 90 lakh and Rs 2.5 crore whereas 35 per cent favour properties priced between Rs 45 lakh and 90 lakh. Just 27 per cent respondents voted in favour of reasonably priced housing (priced under Rs 45 lakh).
In the earlier H2 2020 survey, roughly 36 per cent respondent property seekers eyed budget housing.
Anuj Puri, chairman, CII Real Estate Knowledge Session & chairman, Anarock Group, stated, “The budget range which this survey identifies as the hottest seller is a surprise, but it makes sense if we consider that it is precisely this segment of buyers who are least financially impacted by the Covid-19 pandemic. Online home sales are gaining traction, with close to 60 per cent of the entire property buying process now being conducted online – against 39 per cent in the pre-pandemic period.”
“From property search to documentation and legal advice to down payments, homebuyers are leveraging the new tidal wave of digital technology driving the Indian housing sector,” Puri added.
Approximately 41 per cent collaborating property seekers are contemplating second houses for self-use, of which 53 per cent want mountainous areas. Amid the sustained work-from-home and e-schooling realities, over 65 per cent respondents at the moment working remotely now want bigger houses, and roughly 68 per cent purpose to relocate to peripheral or suburban areas to buy them.
The survey performed between January and June 2021, polled 4,965 contributors throughout India, responding through numerous digital platforms. NRI contributors within the survey primarily want luxurious properties priced between Rs 1.5-2.5 crore.
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