Mumbai, Oct 18 (IANS) Real estate remained the most preferred asset class for investment among 59 per cent of Indians in the first half this year, as 57 per cent of investors said they are buying premium properties to earn rental income, driven by surging rental rates in cities, according to a report on Friday.
About 51 per cent of respondents prefer 3 BHK units, showing increased demand for larger home, as 67 per cent of buyers seek property for end use, while 33 per cent the investment purpose, said the report by FICCI and Anarock Property Consultants.
The report highlighted significant shifts in homebuyer preferences and market dynamics in India’s real estate sector.
“Investor confidence is vital for the industry’s long-term success, and SEBI’s focus on transparency and governance has been key in building this trust,” said Pramod Rao, Executive Director, SEBI. He emphasised that strong compliance and better disclosures will be crucial in attracting institutional investments.
According to Sandip Somany, Past President, FICCI, the significant shift in consumer preferences away from ready-to-move homes towards under-construction properties indicates growing confidence in developers and the regulatory environment.
The report found that the demand for ready homes has declined significantly. The ratio of ready homes to new launches is now 20:25, compared to 46:18 in the first half in 2020.
The Rs 45-Rs 90 lakh budget remains the most popular, but there’s a shift towards premium properties. About 28 per cent now prefer homes priced between Rs 90 lakh and Rs 1.5 crore.
Apartments are still the most preferred property type (58 per cent), but residential plots are gaining popularity, especially in southern cities, the report mentioned.
Top homebuyer demands are timely project completion (98 per cent), improved construction quality (93 per cent) and well-ventilated homes (72 per cent).
However, over 53 per cent of homebuyers are dissatisfied with current affordable housing options, citing issues with location, construction quality and unit sizes.
Anuj Puri, Chairman and Founder of Anarock Property Consultants, said that the survey provides all industry stakeholders with critical insights into the Indian property market from a consumer perspective.
–IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
