This Is What An In-Demand Property Would Cost In Your City
A joint study by Makaan.com and Housing.com revealed that on an average, Indians are looking at a property that is at least 1,300 square foot (sqf) in size. For this, depending on the city and the purchase capacity of these prospective homebuyers, they may be willing to pay more or less. Here is a look at what homebuyers in Indian cities are looking for and the price points at which properties are available here:
The Information Technology capital Bengaluru has been demanding homes that are on an average 1,400 sqf. On Makaan.com, we did a quick search to see properties that are about 1,350-1,400 sqf. There are over 1,800 properties listed on the portal and the broad price range of these apartments is anywhere between Rs 35 lakh to Rs 3 crore. Data suggests that the average budget of Bangaloreans is Rs 68 lakh, down by 1.3 per cent of what it was last year.
This southern city has been asking for properties that are 1,190 sqf, on an average. Listings on Makaan.com suggest that homes close to this size bracket, that is, 1,150-1,200 sqf are in the price range of Rs 30 lakh to Rs 4 crore. Check out the most demanded apartments in Chennai.
The average budget of prospective homebuyers in Chennai is Rs 61.40 lakh which is roughly 4 per cent less than what homebuyers were willing to spend last year on a home.
The national capital has been asking for homes smaller than the national average of 1,300 sqf. Homes that are sized 900 sqf are most demanded. This is also because of the price factor, given that bigger homes in the national capital weigh heavy on the buyer’s pocket. We checked for properties in the size range of 850-935 sqf and while apartments may be fewer, there are options in Uttam Nagar. Residential plots and 1 room and kitchen (1RK) configurations are also available in Delhi’s peripheries. Note that you must be careful while investing and cross check the credentials of the seller and legality of the property. 1RK configurations start at Rs 20 lakh. The average budget of Delhiites is Rs 47.30 lakh.
Greater Noida and Noida
In Greater Noida, the demand is for flats in the average range of 1,322 sqf and homebuyers in this micro-market are looking at homes at an average budget of Rs 40.68 lakh. A quick search on Makaan.com shows that homes in the size range of 1,300-1,350 sqf will cost you anywhere between Rs 18 lakh to Rs 1 crore. There are over 700 properties to choose from.
In Noida, where the average ask is for homes sized 1,320 sqf, there are over 730 options priced between Rs 15 lakh to Rs 5 crore. The average budget for Noida homebuyers is Rs 47.70 lakh.
Millenium City Gurgaon is among those micro-markets that have been asking for big homes, the average stands at 1,585 sqf. In 2018, property buyers have reserved a budget of Rs 83.50 lakh. Makaan.com data suggest that properties priced between Rs 1,550-1,600 sqf will cost you anywhere between Rs 16 lakh to Rs 2.85 crore.
Gurgaon homebuyers seem to have cut down their budget from Rs 98.50 lakh in 2017, a sharp decline of 15 per cent. Find your dream home on Makaan.com.
Hyderabad property market offers spacious homes to complement the demand for big homes. The average demand in the city is for homes sized 1,760 sqf. Hyderabad homebuyers have also increased their budget by 10 per cent and are willing to spend as much as Rs 65.35 lakh on an average. We looked for properties in the size range of 1,750-1,800 sqf and found over 400 properties in Hyderabad’s most coveted size range. These are priced between Rs 44 lakh to Rs 1.60 crore.
Looking for a home in Kolkata? Data suggest that the average size of flat demanded by homebuyers stands at 1,085 sqf, marginally up when compared to the last year. However, the average budget has come down by five per cent at Rs 43.80 lakh.
As per data, homes in the size range of 1,050-1,100 sqf will command anywhere from Rs 20 lakh to Rs 2 crore.
The finance capital of India is asking for smaller homes and the decline in sharp at 8 per cent. On an average, Mumbaikars are looking for homes that are 875 sqf in size and are willing to pay Rs 1.70 crore.
The peripheries have opened up land bank and affordable properties in Mumbai may be few but property options start from Rs 20 lakh and runs up to Rs 13 crore for homes in the size range of 850-900 sqf.
Compared to last year, Pune is asking for homes that are bigger by five per cent and stands at 1,025 sqf. On an average, Puneiites are also reserving a budget of Rs 50 lakh which is stable over the last two years.
In Pune, as per data with Makaan.com, there are over 3,000 properties in the size range of 1,000-1,050 sqf. Look up apartments for sale in Pune in the most popular size range.