Report
49 pc look for sub-Rs 60 lakh option: Magicbricks’ report


The April-June 2015 edition of PropIndex report takes a closer look at buyer’s expectation in the present real estate market through an in-depth Consumer preference analysis. It reveals that at the national level, almost half 49 pc of the consumers are looking for options in the sub-Rs 60 lakh segment.
The report says within this budget range, the share of consumer preference in the sub-Rs 50 lakh segment is 75 pc. Preference for lower budget segments is reinforced by the fact that 47 pc consumers are looking for 2 BHK unit options. With 60 pc of 2BHK units’ supply in 900 – 1,200 sq ft saleable area range, the relatively smaller size (sq ft) of 2BHK format helps the consumers to keep the acquisition cost low at different price points (INR/sq.ft).
Commenting on the findings of the report, E Jayashree Kurup, Head – Content & Research, Magicbricks said, “The report highlights that while consumer interest is focused in the lower budget categories, the supply-side is catering to higher budget segment. The propensity to introduce more units in 3BHK format exacerbates the situation as its larger size increases the total acquisition cost and takes it beyond the consumers’ budget range. There is a case for supply side to better align itself with consumer preference. While aspects like property price will take time to sort out, developers can address consumer preference for the lower budget by designing smaller yet smart dwelling units.”
-
New Launches4 weeks ago
SAYA launches SAYA STATUS, India’s Tallest Mall
-
News4 weeks ago
Tribeca appoints new Head of Business Development, Somendra Sarwal
-
New Launches4 weeks ago
Naiknavare Developers launches Premium residential project, ‘Shivatman’, in Pune’s Shivajinagar
-
News4 weeks ago
Kids Fiesta with workshops, games and characters’ meet at Urban Square Mall, Udaipur
-
Guest Column4 weeks ago
Rising disposable income to push premium housing, commercial segments
-
News4 weeks ago
Luxury segment housing sales increased by ~151 % Y-o-Y in Jan-Mar’23
-
Guest Column3 weeks ago
Boom in organised retail spaces in Chandni Chowk
-
News4 weeks ago
KW Delhi-6 leases space to renowned brands