Seabloggers

Owning a house is a priority for most of us, but the meltdown has brought a level of apprehension amongst most home seekers. Because of negative market sentiments, people like you and me are either mulling over or delaying our decisions to invest in real estate at present.
A recent report and survey by makaan.com — Me, My Home and Property Rates — informed that metros were now the most attractive investment option when it came to buying properties in India. Mumbai is considered the most sought after location for real estate investments with 30 per cent of the respondents voting for it. Twenty-one per cent would like to own a house in Delhi and about 8 per cent and 5 per cent preferred Bengaluru and Chennai respectively. Cities like Hyderabad, Pune and the likes together attracted 36 per cent of those who wanted to enter the real estate market.
The survey indicates that people are looking for more affordable options — they considered anything below Rs 30 lakh within their means and worth thinking about. Seventy four per cent of those looking to buy property thought that this was a reasonable figure. About 22 per cent of the respondents say they are on the lookout for homes costing between Rs 30 to 60 lakh, though there about 3 per cent who could go in for houses more than Rs 60 lakh but less than Rs 1 crore. Only 2 per cent of the respondents showed an inclination to buy property costing more than Rs 1 crore.
Among the cities, Kolkata leads the demand for affordable homes with 89 per cent of the city’s respondents demanding houses in the sub Rs 30 lakh segment. Hyderabad and Chennai follow Kolkata, with 82 and 74 per cent seekers respectively demanding homes in the sub Rs 30 lakh category. The demand for houses costing between Rs 30-60 lakh is at par in Delhi and Mumbai, with 27 per cent of the respondents in the former and 26 per cent of the respondents in the latter choosing this option.