India’s appetite for plots has been increasing at a fast pace, resulting in a important demand rise that today stands just about at par with that for apartments, reveals the most up-to-date Magicbricks Consumer Survey.
As per the survey – ‘What type of property are you planning to buy in 2021?’ – apartments had been the most preferred selection with 36% respondents voting for it, even though plots emerged as the second most preferred asset with 34% votes. Around 20% of the respondents voted for independent homes and 10% for villas.
Post-Covid customer trends on Magicbricks recommend that the demand for plots has been on the rise as home purchasers look for more space to accommodate the increasing requires for a home workplace. Residential markets with significant infrastructure projects such as metro, airport, highway, and rail connectivity are witnessing a big demand for plots. Demand on Magicbricks reflects that Bengaluru, Hyderabad, Chennai, Pune, and Lucknow have been witnessing the maximum demand. In terms of maximum provide, Hyderabad, Chennai, Lucknow, Gurgaon, and Pune leading the charts.
In terms of localities, Yamuna Expressway (Greater Noida), Vishweshwaraiah Layout (Bangalore), Sultanpur Road (Lucknow), Mokila (Hyderabad), and Shamshabad (Hyderabad) have been witnessing a rise in demand. Shadnagar (Hyderabad), Yamuna Expressway (Greater Noida), Devanahalli (Bangalore), Sultanpur Road (Lucknow), and Sangareddy (Hyderabad) are the localities with maximum supplies.
Commenting on the trend, Sudhir Pai, CEO, Magicbricks, mentioned, “Over the last 12 months, we have seen a demand surge for larger configuration homes necessitated by the fact that home buyers are now either looking to buy or upgrade to higher configuration homes due to the continuance of Work from Home (WFH) policies. We have witnessed that most of the demand for plots has been in the range of 900 sq ft to 1800 sq ft.”
“Property seekers today are looking for authenticity while searching for plots, and more than 30% of the supply on our platform are approved by local authorities, assuring our customers with a sense of security. Our plots category offers exclusive access to credible information and latest updates that would enable buyers take an informed and a smart investment decision,” he added.
Magicbricks claims to have curated the biggest collection of authority authorized plots across more than 65 essential corridors in the residential markets of Delhi NCR, Mumbai and MMR, Pune, Bengaluru, Hyderabad and Chennai, and Kolkata. The corridors have been very carefully chosen maintaining in thoughts the availability and important development prospective about connectivity, financial, and social infrastructural development.
The analysis group of Magicbricks’ has performed a thorough analysis of one hundred investment hotspots across all the 65 essential corridors. For every single of these hotspots, the development drivers and the pros/cons are listed out clearly to assist purchasers take an informed choice. Plot seekers uncommon also supplied credible data and most up-to-date updates that assist them conduct an in-depth analysis and make a clever choice, as a result creating it a seamless expertise and decreasing plots search from months to minutes.