Indians prefer buying 2BHK apartments over Villas according to Housing.com
May 31, 2017, 15:38 IST
While looking for a property, you would normally prefer a perfect mix of a great social and civic infrastructure along with proximity to key locations but that’s not all, Housing.com has found that upto 50% Indians prefer to buy practical homes compared to lavish ones.
The overwhelming preference for apartments shows the growing acceptance of this property type amongst the urban population who prefer a standard lifestyle with various amenities at a reasonable cost.
Based on insights drawn from the traffic witnessed on Housing.com, this research helps to understand the buying trends of Indian home buyers across top 5 cities in India - Mumbai, Delhi-NCR, Bengaluru, Chennai and Kolkata.
Top localities for investment
• Mumbai’s property market is legendary and the hottest investment destinations in the city today include Thane West, Dombivli East, Mira Road East, Andheri West and Panvel
• Delhi and the National Capital Region (NCR) region is bustling with a range of infrastructure development and top localities to invest in the region includes Rohini, Uttam Nagar, Dwarka, Sector 16/Palam Vihar and Noida Extension
• Bengaluru, popularly known as the ‘Silicon Valley of India’ is one of the upcoming residential markets in India and top 5 investment localities in the city are Hormavu, K R Puram, Whitefield, Electronic City and J P Nagar
• On the back of infrastructural developments, Chennai has been transforming itself into a real estate hotspot. The top localities of the city preferred for investment are Perambur, Kolathur, Ambattur, Madipakkam and Chromepet
• The top localities in Kolkata, the capital city of West Bengal are South Dum Dum, Dum Dum, Rajarhat, New Town and Garia.
• More than 50% of Indians are interested in buying an Apartment as compared to Villas or Builder floor apartments
• Mumbai is fast emerging as the preferred destination for home buyers as 96% of home buyers choose Apartments over Villas and Builder floor apartments
• Surprisingly, demand for Apartments in Delhi-NCR was recorded lowest at 54%
• The preference for Builder floor apartments is 37% in Delhi and extremely low in other cities (2% in Mumbai, 1% in Bangalore, 3% in Chennai and no preference at all in Kolkata)
• 3BHK is the next most preferred configuration in Delhi-NCR, Bangalore, Chennai and Kolkata (on an average 20% home buyers prefer 3BHK in these cities) as most of the buyers look for a balance between spacious homes, amenities, luxury and afforbidibility. However, Only 6% home buyers prefer 3BHK in Mumbai stating affordability as the major concern in the region.
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The overwhelming preference for apartments shows the growing acceptance of this property type amongst the urban population who prefer a standard lifestyle with various amenities at a reasonable cost.
Based on insights drawn from the traffic witnessed on Housing.com, this research helps to understand the buying trends of Indian home buyers across top 5 cities in India - Mumbai, Delhi-NCR, Bengaluru, Chennai and Kolkata.
Read Also:
Key highlights from the research include: Top localities for investment
• Mumbai’s property market is legendary and the hottest investment destinations in the city today include Thane West, Dombivli East, Mira Road East, Andheri West and Panvel
• Delhi and the National Capital Region (NCR) region is bustling with a range of infrastructure development and top localities to invest in the region includes Rohini, Uttam Nagar, Dwarka, Sector 16/Palam Vihar and Noida Extension
• Bengaluru, popularly known as the ‘Silicon Valley of India’ is one of the upcoming residential markets in India and top 5 investment localities in the city are Hormavu, K R Puram, Whitefield, Electronic City and J P Nagar
• On the back of infrastructural developments, Chennai has been transforming itself into a real estate hotspot. The top localities of the city preferred for investment are Perambur, Kolathur, Ambattur, Madipakkam and Chromepet
• The top localities in Kolkata, the capital city of West Bengal are South Dum Dum, Dum Dum, Rajarhat, New Town and Garia.
Read Also:
Type of Houses • More than 50% of Indians are interested in buying an Apartment as compared to Villas or Builder floor apartments
• Mumbai is fast emerging as the preferred destination for home buyers as 96% of home buyers choose Apartments over Villas and Builder floor apartments
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• The preference for Builder floor apartments is 37% in Delhi and extremely low in other cities (2% in Mumbai, 1% in Bangalore, 3% in Chennai and no preference at all in Kolkata)
Read Also:
• 2BHK housing units are the most preferred choice for more than 40% of home buyers in Delhi, Bangalore, Chennai and Kolkata. In Mumbai, 51% home buyers prefer 1 BHK owing to escalating property rates in the city• 3BHK is the next most preferred configuration in Delhi-NCR, Bangalore, Chennai and Kolkata (on an average 20% home buyers prefer 3BHK in these cities) as most of the buyers look for a balance between spacious homes, amenities, luxury and afforbidibility. However, Only 6% home buyers prefer 3BHK in Mumbai stating affordability as the major concern in the region.