RoofandFloor Bureau
THE BUYER: In a recent home buyer’s survey by RoofandFloor, the following interesting insights emerged:
- Rising housing prices have increased demand for affordable homes;
- According to the RoofandFloor Consumer Insights, about 77% of consumers are searching for homes which costs up to Rs 60 lakhs.
- A major driver is location– proximity to workplace often clinches the deal.
- Most mid-range homes are snapped up by IT professionals.
- 2 BHKs are the most preferred housing unit. About 70% of consumers are looking for 2 BHK units.
- Most searches were for apartments as part of gated communities.
THE REGULATIONS: Mid-range homes are expected to further gain popularity with the Union Budget 2016 offering an additional deduction of Rs 50,000 on interest for home loans up to Rs 35 lakhs, with the house value not exceeding Rs 50 lakh.
THE BUILDER: During RoofandFloor Realty Connect, the heads of 3 major builders in Bangalore – Mr J C Sharma (Sobha Builders), Sushil Mantri (Mantri Developers), Mr M R Jaishankar (Brigade Group) spoke how the stagnancy in the real estate sector is primarily an issue of perception. The slow market’s impact on developers is based on their individual inventories. Those with mid-range units did well while those with larger units didn’t. Mr Jaishankar opines that what looks like a slump for outsiders, is actually a “case of excessive supply over demand. The industry continues to grow, only it is not growing at the expected high pace.”
All in all it looks to be a win-win situation for all. For once all the three involved parties are in on one floor!
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