Mid-Range Homes in Higher Demand Than Affordable Housing: ANAROCK-LIC Survey

• Policy interventions like 25K Crore AIF, tax concessions have boosted homebuyer confidence; most consider real estate investment safe and viable
• Over 63% respondents will buy property anytime during 2020
• 46% bought property in 2019 because of attractive prices, 20% because of RERA implementation
• Workplace connectivity tops buyer agenda - 43% respondents state this as most essential factor to buy a home
• Mid-segment properties priced INR 45-90 lakh draw highest consumer demand at 42% respondents, more than affordable housing
• Delhi-NCR top city for demand for ready-to-move-in properties (44%); high project execution risk primary reason
• Pune, Hyderabad and Tier 2 & 3 cities most preferred for future investments, outperform Bengaluru in latest survey
• 52% home seekers prefer branded developers even if they charge a premium

Mumbai, 2nd March 2020: Multiple policy interventions and tax concessions for the real estate sector over the last six months have drawn approval of 68% respondents polled in ANAROCK’s Consumer Sentiment Survey – H2 2019 in association with LIC Housing Finance Ltd. 

Millennials’ preferences are changing the entire property business landscape in this new decade. Once an investment hotbed, Indian housing is now primarily end-user driven.

The survey reveals that 67% of the polled homebuyers will buy property for personal use, and consumer sentiment is still firmly on the side of ready-to-move-in homes - or, at best, projects nearing completion.

On home selection parameters, connectivity to the workplace counts as most important for 43% millennial property seekers. The IT hubs of Pune and Bangalore came out on top in this trend due to escalating traffic woes.

 The survey indicates that affordable and mid-segment housing priced within INR 90 lakh are clear choices today. Mid-segment properties priced from INR 45-90 lakh topped consumer demand with 42% respondents voting in its favour, followed by 31% preferring homes priced < INR 45 lakh.

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