New Delhi, July 12, 2018: Statistics by leading online property portals makaan.com and Housing.com state property buyers in India demand bigger and better homes. The report said that the change in the preference of buyers is a result of varied lifestyle and disposable income.
The study revealed that in the past year, an increasing number of Indians looking for homes with area 1,300 sqft went up by 4 per cent. It also highlighted that Hyderabad is the only Tier-I city to make use of its affordability and register the highest demand for bigger homes. The average size of homes demanded in the city has gone up by 2.7 per cent.
Buyers that demanded properties with1,710sqft area, are now preferring houses the spread over an area of 1,757 sqft. This has mainly influence the demand for villas for sale in Hyderabad. Top Builders in the city, including Ramky Group, Dream India Group, Modi Builders Group, and Ashoka Builders, among others, are increasingly offering luxury villas at affordable prices.
Other than Hyderabad, the study was conducted for cities like Mumbai,Chennai, Pune, Bengaluru, Delhi-NCR, and Kolkata. The trend is closely being followed by Pune (growth of 5.2 per cent) and Chennai (growth of 5.1 per cent). Bengaluru and Gurugram are also keeping in pace with the demand. Besides, over the last year, Delhi witnessed a growth of 1.5 per cent. However, the city accounted for an average size of around 900 sq ft.
Amongst the cities surveyed, Mumbai was the only city to witness a decline in the homes demanded as per the size. The housing demand for unit size of 875 sqft went down by 8.2 per cent in the city.
Bigger homes are being demanded by a majority of people because of larger space in the house. Villas for sale in Hyderabad are also in high demand due to several benefits they offer. The large rooms, modular kitchens, closet spaces, sprawling lawns, ample parking spaces, open terrace, and others are some of the many factors that led to a growing demand for villas.
An expert from Ramky Group asserted that the reason for buyers demanding bigger homes in Hyderabad is not just the luxury and comfort they offer, but also because of the affordability. Most of the metropolitan cities in India set prices for bigger homes according to the luxury they offer. However, the prices for luxury villas in Hyderabad are comparatively reasonable.
Another industry expert from Modi Builders Group highlighted that villas for sale in Hyderabad are being preferred by the buyers for their locations. As the developers are usually constructing luxury villas on the outskirts of Hyderabad, buyers are majorly opting from them.
He also added that locations like Kukatpally, Shamirpet, Kompally, Ghatkesar, Shamshabad, and others, are in high demand. They are leading to a shift towards villas for sale in Hyderabad, as they are away from the hustles of the main city and offer peaceful environment to the buyers.
Corporate Comm India(CCI Newswire)