Genesis of Makaan IQ

www.makaan.com has emerged as the fastest growing real estate website in India. In less than 8 months of its launch, Makaan.com already has over 2.3 Lac listed properties and more than 8.6 Lac unique visitors access the site per month. Makaan IQ is a series of property trend reports aimed to be the most comprehensive real estate guide in India. The underlying data is based on the real demand and supply in the market, based on information entered by the users. Makaan IQ will be a regular trend report on real estate activities in major Indian cities. We hope you benefit from our report.

Background

The Indian real estate market has been under some pressure over the last few months.
The general perception amongst property seekers is that property rates have softened, and due to high home loan rates, buyers have been shying away from making real estate investments. Whether or not this perception is accurate or not will become clearer as we get deeper into this report. This report is focusing on one of the most important property hot spots in India i.e., Delhi/NCR.
NCR: An ever-expanding Metropolis

The Indian real estate market has been under some pressure over the last few months. The general perception amongst property seekers is that property rates have softened, and due to high home loan rates, buyers have been shying away from making real estate investments. Whether or not this perception is accurate or not will become clearer as we get deeper into this report. This report is focusing on one of the most important property hot spots in India i.e., Delhi/NCR.
The Demand Side Equation: Where's the action happening?

Unlike popular belief, there has been a modest increase in demand for properties in NCR over the review period (from January to April 2008). One interesting trend among these seekers was the fact that 50% of them were not looking for a property in any specific area and were willing to purchase anywhere in NCR, as long as their essential property requirements were being met. This means that if a property seeker wanted to buy a 2 Bedroom apartment for 30 Lacs, he/she was willing to buy anywhere in NCR.
The other 50% seekers were more specific in their location preference. We will now focus the remaining analysis on these 50% of property seekers.

  • The property hot spots of Delhi/NCR (accounting for maximum demand for properties) are Gurgaon, followed by South Delhi, West Delhi, Noida & Dwarka These five account for 62% of all properties searched in NCR.

  • The number of seekers looking for a property in Gurgaon are double that of Noida and even Dwarka.

  • There has been a renewed interest for properties in areas like West & North Delhi. The number of seekers have grown the maximum here.

  • The intensity of real estate activity in Dwarka has remained the same over the review period.
  • Suburbs of Gurgaon, Noida, Greater Noida, Faridabad and Ghaziabad account for nearly 42% of property demand in NCR.

  • There has been maximum softening of demand in Gurgaon, Greater Noida and Faridabad.
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