Buyers prefer ready-to-move-in homes

NEW DELHI:Ready-to-move-in homes continued to be the most preferred option for a large majority of home buyers, with Delhi NCR and Mumbai turning out to be the most cautious markets, according to a survey by a real estate portal.

While around 89% of the respondents in the National Capital Region (NCR) voted for ready-to-move-in as the most preferred stage for property buying, around 88% respondents voted for ready-to-move-in homes in Mumbai. Pune, Bengaluru and Chennai followed with 79%, 62% and 50% of respondents voting for ready-to-move-in homes a their preferred choice, respectively, shows the survey titled ‘Consumer Sentiments Survey H2 2016’.

“Due to construction delays, high demand for ready-to-move-in properties was a major trend in 2014, which seems to continue in 2016 as well. Moreover, as prospective buyers are looking for self-use, maximum respondents across cities voted for property that is ready for possession within one year,” said the survey.

Considering the monetary benefits, consumers in Bangalore and Chennai opted for pre-launched properties as their second option, while displaying little cautious approach, consumers in Mumbai Metropolitan Region (MMR), NCR and Pune preferred under-construction properties as their second option.

Panvel in Navi Mumbai is set to have the maximum supply of ready-to-move-in homes of about 10,892 units in 2016, followed by Whitefield in Bengaluru with about 10,232 units and Alwar-Bypass Road in NCR with supply of around 9,094 ready-to-move-in homes in 2016.

Credits ET Realty

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