What do you really think about when you are looking for a home? What is driving you? What is your preferred property type? Your budget? Questions many. And are there any answers?
In the first of our series of posts on 2018, we dug deep into our data to find out what you, our homebuyer, searching for this year. Our data analyst, Ganapathy Rama Subramanian, had the answers for us.
Here’s a snapshot of the searches made on RoofandFloor this year.
Budget was the biggest factor in home buying
Affordable housing has taken centre-stage in India over the past four years, given the push by the central government.
According to our research, affordability was one of the main searches for 2018. About 30% of prospective homebuyers were looking for properties within Rs 40 Lakh, followed by properties within Rs 20 Lakh.
Projects within Rs 40 Lakh in each city
Hyderabad and Chennai prefer independent homes
About 45% of the homebuyers were looking for independent homes, closely followed by villas and apartments. Breaking the data geographically, buyers from Hyderabad searched for independent houses the most, followed by Chennai, and Bangalore.
Some of the most common searches include:
• Independent houses for sale in Hyderabad below Rs 20 Lakh
• Independent houses for sale in Chennai below Rs 35 Lakh
• Independent houses for sale in Bangalore below Rs 30 Lakh
In Pune, a good percentage of buyers were looking for 1BHK apartments within Rs 10 Lakh. In Chennai, people were also looking for CMDA-approved plots.
Both big-name and smaller developers ruled the roost
Mumbai-based Hiranandani Developers and Xrbia were among the most-searched developers.
Hiranandani has about six ready-to-occupy projects and two ongoing projects on RoofandFloor. Xrbia has about six ready-to-occupy projects and eight ongoing projects.
Chennai-based developers – Ruby Builders and Promoters and Casagrand Builder Private Limited – were next on the search list.
A leading name in the real estate industry, Ruby Builders and Promoters have 11 ready-to-occupy projects and one ongoing project. About 16 projects listed on the portal are already sold-out. Casagrand has about three ready-to-occupy projects and 18 ongoing projects.
(Read about the most searched projects of 2018 here)
Emerging localities jostle with established ones
Medavakkam and Kattupakkam in Chennai, Banaswadi, Neelamangala, and Sadashivnagar in Bangalore, and Wakad in Pune were the most-searched localities of 2018.
With property values along the Old Mahabalipuram Road (OMR) heading north, Medavakkam in South Chennai has emerged as an alternative for professionals who want to stay close to their workplace.
Kattupakkam, on the other hand, benefits from its strategic location along Mount Poonamallee Road. Additionally, it offers an array of property options in the wide budget segment.
In Bangalore, Banaswadi is primarily cashing in on its easy accessibility to Manyata Tech Park, which is about 8km from here. Nelamangala has gained prominence due to the availability of plotted developments at affordable rates. On an average, you can get a 1,000 sq. ft. plot in Nelamangala within Rs 15 Lakh.
Considering the limited new supply and high property rates, it’s a surprise that Sadashivnagar was one of the most searched-for localities. From movie actors to politicians to businessmen, you can find everyone in the posh, upscale neighbourhood of Sadashivnagar. It is one of the few localities to have a large lung space with ample greenery, something that pollution-stricken Bangaloreans must be looking for.
Wakad in Pune has several reasons to attract homebuyers. It is a self-sufficient locality close to the Pune-Mumbai Expressway, IT corridor, and other important micro-markets. Additionally, the locality is also well-equipped with civic amenities and improving social infrastructure.
(Note: The post is based on actual searches made on RoofandFloor over the past one year)