Attractive Prices Lure 61% Hyderabad Homebuyers, 50% in NCR Respond to RERA Implementation – ANAROCK

  • Current avg. property prices in Hyderabad hover around INR 4,170 per sq. ft. – the lowest among all top 7 cities
  • In the last 5 yrs. the city’s average prices have risen by 15% – 3rd only to Pune Bangalore that saw 25% and 16% appreciation respectively
  • Hyderabad micro markets with max. absorption in last one year was Pocharam, Bachupally, & Kondapur
  • 50% of buyers in NCR bought property due to effective RERA implementation while 58% of buyers in Kolkata were driven by lower home loan rates

E-commerce biggies may be toning down their offers, but discounts and freebies are still alive and kicking in real estate – and developers are going all out to lure buyers with attractive deals and discounts. Is it working?

As per the recent ANAROCK Consumer Sentiment Survey, as many as 50% buyers across the country bought homes due to attractive prices.

PRESS RELEASE

18% Homebuyers Prefer New Launch Homes Against Previous 5%: ANAROCK Consumer Sentiment Survey

  • RERA implementation & lower GST revive consumer faith in new launches; 36% of buyers still prefer ready-to-move-in units
  • Lower prices influenced >50% homebuyers to purchase homes in 2018; nearly 52% would buy again with the same developer
  • End-user-driven Bangalore saw 44% of respondents buy homes for investment
  • 70% of prospective buyers prefer properties under INR 80 lakh
  • Tier 2 & 3 cities new investment hotspots; Bangalore favourite investment destination for NRIs

Mumbai, 24 April 2019:  While ready-to-move-in homes remained the preferred choice for several homebuyers, new launches (which drew the least consumer interest in the previous survey) saw a decent revival according to ANAROCK’s Consumer Sentiment Survey H1 2019.

Over 18% of respondents now prefer new launch properties as against mere 5% in the previous survey.

Interestingly, 44% NRIs would now consider new launch properties over under-construction (to be completed in 1 year) or ready-to-move-in homes (obviously a welcome development for developers facing funding issues due to previously negligible advance sales).

Anuj Puri, Chairman – ANAROCK Property Consultants

  • Nearly 60% of women home seekers prefer a property within the budget-range of INR 80 lakh; 52% will opt for ready-to-move-in homes
  • Women homebuyers benefit from lower stamp duty charges, low home loan interest rates, and tax deductions
  • Women must now mandatory be either co-owners or sole owners of affordable homes.

There’s a famous saying – the hand that rocks the cradle rules the world. This is so apt today, as women are excelling across sectors and increasingly making their mark in a male-dominated world.

The 21st-century millennial woman is progressive and increasingly financially independent. This had led to a distinct shift in her investment preferences – where gold and fixed deposits were the primary choices for Indian women, real estate now rides high in her investment portfolio.

In fact, in ANAROCK’s consumer sentiment survey, nearly 20% of participants were women. Among the many highlights of this survey – nearly 42% of women respondents preferred real estate as an investment asset class, followed by 30% for FDs and a mere 17% for gold.