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<ul><li>More than half (52%) of the participants who chose <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> as an investment asset were millennials. </li><li>Recent layoffs by both large and small corporates are likely to have some impact on the demand in the next two quarters. </li><li>For more than 80% of property seekers, the cost of property remains a crucial factor. </li></ul>Sale of bigger, high-value homes has gained significant momentum in the popular real estate markets of National Capital Region (NCR) and Mumbai Metropolitan Region (MMR) over the last few quarters. Data from the CII-Anarock report 'The Housing Market Boom,’ reveals that over 45% of those seeking property in NCR are interested in purchasing <keyword id="2819219" type="General" weightage="20" keywordseo="3bhk" source="Orion">3BHK</keyword> homes in the near future. Similarly, in the pricey MMR region, 43% of respondents prefer <keyword id="911315" type="General" weightage="20" keywordseo="2bhk" source="Orion">2BHK</keyword> homes, while more than 32% are interested in 3BHK homes. Overall, 58% want to buy homes priced between ₹40 lakh to ₹1.5 crore, while 42% prefer 3BHKs, the report finds. The Covid-19 pandemic has had a lasting impact on the preferences of homebuyers. The surveyed homebuyers are no longer just concerned about price and basic amenities when considering a property. Instead, they prioritize timely project completion assurance, the availability of a <keyword id="1727880" type="General" weightage="20" keywordseo="study-room" source="Orion">study room</keyword>, and adequate ventilation. Over 90% of homebuyers will not compromise on timely project completion, while 62% require well-ventilated homes and 55% consider a study room to be essential. Millennials live it up Half of the individuals surveyed — at least 52% —- who selected real estate as a viable investment option are millennials. The primary objective of these millennials is to purchase a home for their own personal use, rather than buying a property solely for investment purposes. However, further interest rate hikes and recent layoffs may dent the housing demand going ahead. “Rate hikes are just part of the overall demand scenario. Recent layoffs by both large and small corporates are likely to have at least some impact on the demand in the upcoming two quarters, and dent growth in the housing market. Many homebuyers impacted by layoffs may defer home buying decisions until their employment situation stabilizes. Nevertheless, buying homes remains the top priority for everyone,” said Anuj Puri, Chairman, Anarock Group. The rate hike effect The report focuses on the opinions of buyers during the current challenging times, including the possibility of another interest rate increase by the RBI in the near future. According to the report, if such a rate hike occurs, the housing sales momentum in the top 7 cities may experience difficulties as nearly all prospective buyers (96%) claim that higher home loan rates will impact their decisions. Furthermore, for more than 80% of property seekers, the cost of property remains a crucial factor, as the basic price of real estate has increased in the past year. Potential buyers are sensitive to changes in interest rates and property prices, and any significant fluctuations in these factors could have a significant impact on the real estate market in the near future. Data from Anarock indicates that the average property prices in the top 7 cities of India have witnessed a growth of 6-9% in Q1 2023 (January to March) as compared to Q1 2022. This growth is primarily attributed to the surge in the prices of construction raw materials and an overall increase in demand. Among the top cities, MMR, and Bangalore registered the highest annual growth of 9%. SEE ALSO <a href="https://www.businessinsider.in/personal-finance/news/how-to-take-home-loan-benefit-in-2023-24/articleshow/99575363.cms">Have a home loan? You may want to opt for the old tax regime</a> <a href="https://www.businessinsider.in/finance/banks/news/interest-on-home-loans-of-75-lakh-and-above-can-increase/articleshow/99397263.cms">Looking for a home loan of ₹75 lakh or above? The RBI rate hike pause might not bring you relief</a>

3BHKs are the new 2BHKs as Indians yearn for a study room

<ul><li>Demand for bigger homes has seen a spurt in the <keyword id="9208211" type="General" weightage="20" keywordseo="post-covid" source="Orion">post-Covid</keyword> era. </li><li>In fact, 77% of the NRIs are looking to buy bigger homes, while 23% want 4 BHK homes. </li><li>Housing sector has seen a 15-20% increase in demand by <keyword id="11904949" type="General" weightage="50" keywordseo="nri" source="Orion">NRI</keyword> in the first nine months of 2022 compared to the corresponding period in 2021.</li></ul>Many non-resident Indians (NRIs) are looking to come back to their motherland keeping in mind the ongoing economic situation due to the Russia-Ukraine war and thus, are actively searching for housing properties in India. "Despite the worst of Covid-19 now in the past, NRIs have clearly not forgotten the uncertainties associated with living in a foreign country during a major pandemic. Securing homes in India became, and remains, a priority for Indians everywhere,” said <keyword id="266974" type="General" weightage="80" keywordseo="prashant-thakur" source="Orion">Prashant Thakur</keyword>, Sr. Director &amp; Head of Research, ANAROCK Group. In fact, 77% of the NRIs are looking to buy bigger homes, while 23% want 4 BHK homes and 54% want to buy 3 BHK properties, according to CII-ANAROCK Consumer Sentiment Survey. The survey got 55,000 responses from NRIs, out of which 7% were currently stationed in the US, Canada, Gulf, Europe, and various Asian countries. Demand for bigger homes has seen a spurt in the post-Covid era. “While schools and offices have reopened, the desire for extra living space remains undiminished. Many of the large IT companies and IT-driven startups now operate on a hybrid work model,” says the report. Notably, more NRIs prefer investing in Indian real estate over stocks, mutual funds, gold, and fixed deposits. Another reason why NRIs prefer bigger homes is the favourable exchange rate. The percentage of NRIs looking for 2 BHK properties has declined from 40% in 2019 (pre-Covid) to 22% in 2022 (post-Covid). "As per <keyword id="7746659" type="General" weightage="50" keywordseo="anarock-research" source="Orion">ANAROCK Research</keyword>, the Jan-Sep period of 2022 saw approx. 2.73 lakh homes sold in the top 7 cities," said Thakur. The real estate market has overall witnessed a gradual recovery after successive Covid-19 lockdowns. The demand further boosted during the festive season despite higher interest rates and biting inflation. <cmsannotation type="cmsannotation" annotationid="Bengaluru remains as one of the top choices" comment="subhead" text="Bengaluru remains as one of the top choices"><keyword id="6354321" type="General" weightage="80" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> remains as one of the top choices</cmsannotation> Bengaluru has been one of the top three choices among NRIs to invest in the housing sector before, during and after the Covid pandemic. Other than Bengaluru, Hyderabad and NCR are the top choices for the NRIs this year. At least 60% of the respondents agreed to be looking for properties in Hyderabad, 20% were eyeing the NCR region and 18% were preferring Bengaluru. Last year, Bengaluru, Pune and Chennai were the top picks for most NRIs. While 63% of the respondents want premium properties priced between ₹90 lakhs to ₹1.5 crore, 59% NRIs preferred luxury properties priced between ₹1.5 - 2.5 crore. Overall investment in the Indian housing by NRIs has ballooned from 55% in the pre-Covid year (2019) to 71% this year. "On an average, NRIs account for 10-15% of homes sold in any given quarter,” Thakur added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/canada-facing-labour-shortage-what-does-it-mean-for-indian-immigrants/slidelist/95251236.cms">Canada facing labour shortage — what does it mean for Indian immigrants</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-capital-bidders-flag-off-multiple-legal-issues-involving-rs-20000-crore-liability/articleshow/95248934.cms">Reliance Capital bidders flag off multiple legal issues involving Rs 20,000 crore liability</a>

More NRIs are keen to buy bigger homes in the country, says report

The sitcoms of <keyword id="6355055" type="COUNTRY" weightage="20" keywordseo="USA">USA</keyword> have influenced young minds in India like never before. Working either with a media firm or a technology start up – the profession doesn’t matter. Holding a sugar free cappuccino in one hand and smartphone on the other, today’s millenials with a successful group of peers seem to be just out from the world of F.R.I.E.N.DS. But staying in India and maintaining a US lifestyle cost these people badly. And thus begins the romance of the roofless. In the poem ‘All You Who Sleep Tonight’, <keyword id="196246" type="PERSON" weightage="20" keywordseo="Vikram-Seth">Vikram Seth</keyword> writes,” All you who sleep tonight/ Far from the ones you love,/ No hand to left or right/ And emptiness above.” In today’s context, that’s probably every millennial staying out of their home and dreaming high. And to ease their worries, there are new businesses that are emerging. One of the brightest stars in the millennial galaxy right now is the co-living sector. Co-living has existed since ages. But there was no method to it. Hostels have catered to students. But for bachelors working at offices, PG or rented accommodation has catered to the mass. Nobody bothered about the out-of-college young people. And that’s where the co-living companies smelled profit. They researched on the crisis young people face. From exorbitant rents to brokerages and lack of furnishings, there were just too many things lacking. StayAbode is a start-up that is using design, technology, service and brand to build co-living spaces for the rental residential market at scale. Targeted at the millenials, it provides the experience of staying in a boutique hotel with a community of like-minded individuals. They already have upto 95% occupancy in each of their 5 properties in Bengaluru. It is interesting to know that the female:male ratio at their Nestor property in <keyword id="6405428" type="PERSON" weightage="20" keywordseo="Koramangala">Koramangala</keyword> is 55:45. 
	
	<div type="image" title="Viral Chhajer, Co-founder, StayAbode" msid="59630034" hostid="261"></div>





Viral Chhajer, Co-founder, <keyword id="4225783" type="UNKNOWN" weightage="20" keywordseo="Stay-Abode">Stay Abode</keyword> <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> spoke to Viral Chhajer, Co-founder &amp; CEO, StayAbode about the dynamics of the business. How do you see Indian co-living scenario evolving? With the massive influx of millennials in metros and the need to be flexible, mobile and social, co-living is the best option for the urban millennials. The need to have a sense of belonging to a community will be a major driver of adoption of this modern way of living amongst us Indians. We have always seen co-living as a bachelor's' move? Given the housing crisis do you think it will now modify? Co-living currently is seen as a bachelors home because of the underlying design philosophy behind co-living spaces. As that continues to evolve we’ll see co-living spaces for families, young couples etc. What does the market of co-living space look like over next 5 years? 150Million plus urban millennials live in rented homes today. As demand for co-living spaces continues to grow and rental yields continue to exceed those of the traditional <keyword id="352945" type="ORGANIZATION" weightage="20" keywordseo="BHK">BHK</keyword>’s, we’ll see a gradual shift in how realtors look at real-estate designs from an end use perspective. What kind of investments is this space getting? Given the impressive returns that co-living spaces are now being able to offer to property owners (sometimes as high as 15%) there is an opportunity to create a new asset class in real estate and that continues to excite both investors and realtors. Does Co living space indicate death of traditional real estate over few decades? We’re at a point where excessive demand of co-living spaces is driving more confidence and adoption in the space by realtors. The future will entail co-living spaces influencing construction and steering structural designs towards building more efficient and friendly homes. Currently, structural designs in real-estate follow a very one size fits all approach which in the coming few decades will go through design based disruptions for different age groups which will ultimately benefit both, the realtors and the end users. What Business Insider felt was even though these are boutique solutions, Stay Abode needs to create inventories that would be low-cost and pocket-friendly for millennials who are in their initial stage of their careers. Catering to just one particular economic group won't really be business-friendly.

Co-living will solve the residential crisis of urban millenials and that’s the future of real estate

While looking for a property, you would normally prefer a perfect mix of a great social and civic infrastructure along with proximity to key locations but that’s not all, Housing.com has found that upto 50% Indians prefer to buy practical homes compared to lavish ones. The overwhelming preference for apartments shows the growing acceptance of this property type amongst the urban population who prefer a standard lifestyle with various amenities at a reasonable cost. Based on insights drawn from the traffic witnessed on Housing.com, this research helps to understand the buying trends of Indian home buyers across top 5 cities in India - Mumbai, Delhi-NCR, Bengaluru, Chennai and <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword>. <div type="embedgroup"> <div type="Article" hostid="261" msid="58908111" title="Meet the People Who Risk their Lives to Ensure your Phone Catches Signal Wherever You Go" rank="1.0" kind="RELATED" publishDate="May 30, 2017, 1:20 PM" mstype="2" mssubtype="0"></div></div>






Key highlights from the research include: Top localities for investment • Mumbai’s property market is legendary and the hottest investment destinations in the city today include Thane West, Dombivli East, Mira Road East, Andheri West and Panvel • Delhi and the National Capital Region (<keyword id="53426" type="CITY" weightage="20" keywordseo="NCR">NCR</keyword>) region is bustling with a range of infrastructure development and top localities to invest in the region includes Rohini, Uttam Nagar, Dwarka, Sector 16/Palam Vihar and Noida Extension • Bengaluru, popularly known as the ‘Silicon Valley of India’ is one of the upcoming residential markets in India and top 5 investment localities in the city are Hormavu, K R Puram, Whitefield, Electronic City and J P Nagar • On the back of infrastructural developments, Chennai has been transforming itself into a real estate hotspot. The top localities of the city preferred for investment are Perambur, Kolathur, Ambattur, Madipakkam and Chromepet • The top localities in Kolkata, the capital city of West Bengal are South Dum Dum, Dum Dum, Rajarhat, <keyword id="183467" type="CITY" weightage="20" keywordseo="New-Town">New Town</keyword> and Garia. <div type="embedgroup"> <div type="Article" hostid="261" msid="58894102" title="Ditch Sodas This Summer, Opt For This New Flavoured Green Tea Instead" rank="1.0" kind="RELATED" publishDate="May 29, 2017, 3:30 PM" mstype="2" mssubtype="0"></div></div>






Type of Houses • More than 50% of Indians are interested in buying an Apartment as compared to Villas or Builder floor apartments • Mumbai is fast emerging as the preferred destination for home buyers as 96% of home buyers choose Apartments over Villas and Builder floor apartments • Surprisingly, demand for Apartments in Delhi-NCR was recorded lowest at 54% • The preference for Builder floor apartments is 37% in Delhi and extremely low in other cities (2% in Mumbai, 1% in Bangalore, 3% in Chennai and no preference at all in Kolkata)

 

 

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• 2BHK housing units are the most preferred choice for more than 40% of home buyers in Delhi, Bangalore, Chennai and Kolkata. In Mumbai, 51% home buyers prefer 1 BHK owing to escalating property rates in the city • 3BHK is the next most preferred configuration in Delhi-NCR, Bangalore, Chennai and Kolkata (on an average 20% home buyers prefer 3BHK in these cities) as most of the buyers look for a balance between spacious homes, amenities, luxury and afforbidibility. However, Only 6% home buyers prefer 3BHK in Mumbai stating affordability as the major concern in the region.

Indians prefer buying 2BHK apartments over Villas according to Housing.com

In a surprising turn of events, <keyword id="20137391" type="General" weightage="100" keywordseo="Nikhil-Kamath" source="keywords">Nikhil Kamath</keyword>, co-founder of India's biggest discount brokerage firm <keyword id="19913826" type="General" weightage="20" keywordseo="Zerodha" source="keywords" meta.keywordsubtype="org" meta.entityname="Zerodha" meta.hostid="261" meta.entityid="Zerodha">Zerodha</keyword>, left the internet divided by purchasing a house, despite recently having advocated voraciously for renting property in his popular podcast "WTF." Comedian Sonali Thakkar Desai took to X (formerly Twitter) to highlight this U-turn, noting that "Nikhil Kamath has bought a house after advocating for so long about how “renting is the best; only fools would buy property." So let this be a lesson to literally everyone who listened to him or any other finance bro and based their real estate decisions on rubbish reels." She further added that "Mutual funds and Nikhil Kamath's opinions are subject to market risk". Kamath, who has a net worth of $3.1 billion, acknowledged that a lack of control over one's living situation is one of the biggest drawbacks of renting, noting a personal incident where he had to unwillingly and unexpectedly move out of a house. However, he maintained his skeptical attitude toward real estate as an investment, calling it illiquid and arbitrarily priced in the high-end housing market. Kamath also highlighted that due to the sky-scraping costs associated with buying property, like stamp duties of 5-6% on property transactions, it is not economically feasible to frequently buy and sell real estate, as opposed to other asset classes like gold, stocks, and more. On his podcast, Kamath also highlighted that renting does not always translate into a profitable business. "I think nobody makes money from buying and renting a place. You do not have occupancy throughout the year for something like AirBnB. Accounting for inflation and interest rates, the return on this investment is negligible," he said. Kamath's decision has reignited the never-ending debate between renting and buying property. While some social media users pointed out that for the wealthy, the choice between renting and buying is largely inconsequential, others emphasized the immense emotional and stability benefits that came along with homeownership. Kartik Rangappa, who heads Zerodha's Varsity, recently tweeted that it is okay to keep the math and Excel sheets behind buying a house aside if it gives you a sense of security and peace of mind. "Owning a house versus renting is an endless debate often backed by elaborate excel sheet math. Keep the math aside and buy a home if it make you feel secure and gives you peace of mind. Peace of mind &gt;&gt; Excel sheet math," he tweeted on October 16, 2024. There is no denying the fact that owning a house is an expensive affair and a long-term financial commitment as well. Recent report from FICCI and ANAROCK suggest that the average budget range for a 2BHK in Gurgaon is anywhere between Rs 90 lakh and Rs 1.3 crore. Getting a 2BHK in Noida, another prominent satellite town of Delhi, can cost up to Rs 85 lakh to Rs 1.20 crore. As it is, with the central bank not looking to cut rates anytime soon, home loan interest rates are set to remain elevated, meaning higher EMI outflows from your pockets if you are looking to buy a home in the present environment.

Billionaire broker Nikhil Kamath buys home, leaves internet debating on renting vs. owning a house

<keyword id="19895040" type="General" weightage="100" keywordseo="real-estate" source="keywords">Real estate</keyword> was India's asset of choice for investment in the first half of 2024, noted a recent FICCI-ANAROCK report. About 59% of the 7,615 respondents across 14 Indian cities expressed their desire to invest in real estate. Out of these, 67% of respondents wanted to buy a house to live in it, while the remaining 33% viewed it as an investment. Out of this 33%, the majority (57%) wanted to earn rental yields from the same, while another 20% planned to sell their property after its price has appreciated significantly. The remaining 23% viewed real estate as an asset for securing their future. Even for millennials, buying a house featured at the top of their priorities. 66% of millennials and 41% of generation X respondents highlighted that they intended to utilize their investment gains to buy a house in the future. What was also notable was the significant decline in demand for ready-to-move in units and a corresponding rise in demand for under-construction units. During the first half of 2024, for every 20 individuals who preferred a ready-to-move-in house, 25 respondents chose a new launch or under-construction property. This ratio was at 32:21 in the first half of 2021. Some of the reasons why over 53% of homebuyers are dissatisfied with the current available options when it comes to <keyword id="20254620" type="General" weightage="20" keywordseo="affordable-housing" source="keywords">affordable housing</keyword> are location accessibility (92%), poor quality construction design (84%), and small unit sizes (68%). Even the supply in the affordable housing category across the top 7 Indian cities has considerably shrunk over the last 3 years, from 26% in 2021 to just 17% as of September 2024. However, this differed based on the city. While over 50% of respondents chose 3BHK apartments in cities like Chennai, Hyderabad, Delhi-NCR, and Bengaluru, over 40% preferred a 2BHK in other metros like Kolkata. Mumbai Metropolitan Region (MMR) and Pune. However, that does not mean that there is little demand for luxury homes. 28% of respondents preferred buying a house between the range of Rs 90 lakh and Rs 1.5 crore. This was a mere 18% prior to the pandemic. However, the most common budget range for houses remained between Rs 45-90 lakh, with 35% of respondents choosing the same. As far as under-construction properties are concerned, a staggering 98% of respondents prefer timely project completion, 93% choose improved construction quality, and 72% prefer a well-lit, ventilated home. The report further noted that Indians are increasingly inclined towards larger, more luxurious living spaces. 3BHKs and apartments remained the most preferred choice of residence and property type, with 51% and 58% of respondents opting for them, respectively. Residential plots were also seen gaining traction, particularly in southern India, with 30% of respondents in Chennai, 29% in Bengaluru, and 27% in Hyderabad preferring them. <keyword id="21483825" type="General" weightage="20" keywordseo="home-loan-interest-rates" source="keywords">Home loan interest rates</keyword> also significantly influenced home buying decisions. If the rates are below 8.5%, it would have minimal impact on buying decisions for around 71% of respondents. However, interest rates exceeding 9% would significantly impact 87% of buyers. With the RBI currently deciding to hold off on slashing interest rates in October for the 10th consecutive time, home loan rates are likely to stay elevated in the future. Experts estimate that the RBI will start cutting interest rates early next year.

Real estate continues to dominate India's investment portfolios, shows FICCI report

Deciding whether to rent or buy a home is one of the biggest financial choices most people will make. It’s not a straightforward decision, especially when considering the rapid increase in <keyword id="21530105" type="General" weightage="20" keywordseo="rental-prices" source="keywords">rental prices</keyword> in some of India’s biggest cities. Let’s dive into how the cost of renting has risen compared to buying, and whether it's still worth it to rent or if it’s time to start looking at <keyword id="20879400" type="General" weightage="20" keywordseo="homeownership" source="keywords">homeownership</keyword>. <h2>Soaring renting costs</h2>If you’re renting in cities like Bengaluru, Pune, or Kolkata, you might have noticed something frustrating — your rent seems to keep going up. According to <keyword id="20974307" type="General" weightage="20" keywordseo="ANAROCK-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="ANAROCK Research" meta.hostid="261" meta.entityid="ANAROCK Research">ANAROCK Research</keyword>, in several of India’s top cities, rental prices have jumped significantly, even more than <keyword id="21006188" type="General" weightage="20" keywordseo="property-values" source="keywords">property values</keyword> in some places. For example, in Bengaluru’s Sarjapur Road, average monthly rents shot up by 67% between the end of 2021 and the middle of 2024. If you were paying Rs 21,000 in rent at the end of 2021, that would now be around Rs 35,000 a month! And Bengaluru isn’t the only city where renters are feeling the squeeze. In Pune’s Hinjewadi, rent prices have surged by 52%, while property values went up by just 31%. Similarly, in Kolkata’s EM Bypass, rents rose by 46%, but property prices saw a much smaller bump of 15%. But there are cities where buying makes even more sense because property prices are outpacing rental costs. In Hyderabad’s Gachibowli, for instance, while rent went up by 50%, property values soared by 70%. This trend is also seen in NCR’s Sohna Road, where rents increased by 40%, but property prices grew by 54%. <h2>Is renting really worth it?</h2>Let’s say you’re living in a 2BHK flat in Bengaluru, paying Rs 50,000 a month in rent. It might seem like an okay deal at first, but when you look at the long-term cost, things get tricky. Dr Prashant Thakur, Regional Director &amp; Head of Research at ANAROCK, breaks it down: "One-year payable rent for the individual is Rs 50,000 x 12 = Rs 6,00,000. For the next 10 years, the total rental outgo, including an annual rental increase of 7%, will be around Rs 83 lakh. This rental outgo is almost 69% of the total cost of this property — and this is just an expense with no investment value accrued." <div type="Article" hostid="261" msid="113367496" title="I bought my dream home, but the difficult process and higher cost sometimes make me wish I&amp;#39;d stuck with renting" mstype="2" mssubtype="0"></div>What does that mean? If you keep renting, you’re essentially throwing money out the window without gaining any ownership of the home. While you may have the flexibility that comes with renting, your hard-earned money doesn’t build any long-term value. <h2>Is it time to make the home purchase leap?</h2>So, what if you took the plunge and bought the place instead? Let’s say you’re eyeing a Rs 1.2 crore apartment and can afford to put down a 20% down payment, with the rest coming from a 10-year home loan at 9.5% interest. Dr. Thakur explains, “If the individual opts to buy the property via a home loan, has the financial wherewithal to make a 20% down payment, and borrows the remaining amount over a 10-year tenure at 9.5% interest rate, such a purchase is definitely profitable. Instead of spending a huge amount on rent, the individual can pay monthly EMIs and ultimately own the physical asset after a ten-year period.” With this approach, the monthly EMIs may be slightly higher than what you’re paying in rent, but there’s a key difference — you’re working towards owning your home. After 10 years, the home is yours, and you don’t have to worry about rent going up year after year. <h2>Homeownership isn’t just about the numbers</h2>While the math might lean towards buying, it’s not just about finances. For some people, renting makes more sense, especially if they don’t plan to settle down in one place for a long time. Job mobility, financial stability, and lifestyle choices all factor into this decision. However, something interesting happened during the COVID-19 pandemic. Many people, including millennials who had previously been all about renting, started reconsidering. The pandemic brought a sense of uncertainty, and suddenly, the security of owning a home became much more attractive. Dr. Thakur points out, "Amid a rising aversion to high-risk investments, an increasing number of tenants see rent as an expense, and EMIs as SIPs towards a non-volatile asset." <div type="Article" hostid="261" msid="113395713" title="Welcome to interest-rate cut week: Here&amp;#39;s how the Fed&amp;#39;s next move will impact everything from home prices to new cars loans" mstype="2" mssubtype="0"></div>Plus, home loan interest rates are currently lower, averaging between 8.75% and 9.5%, making homeownership more affordable than it has been in the past few years. And let’s not forget the tax benefits: Homebuyers can avail of deduction on principal repayment, interest charges, and a further deduction of Rs 50,000 for first-home buyers. The answer, as with most things, isn’t black and white. Renting offers flexibility, especially if your job might take you to a new city in a year or two. But with rents rising sharply in cities like Bengaluru, Pune, and Chennai, buying might be a smarter option in the long run. If you’re financially ready to make a down payment and secure a home loan, investing in a home could save you from steep rental hikes and give you the stability of owning a property.

Should you rent or buy a home? Here’s how much rental pricing has gone up compared to ownership cost in major Indian cities

New Delhi, Realty major <keyword id="6362997" type="General" weightage="20" keywordseo="dlf" source="Orion">DLF</keyword> on Monday said it has sold 1,113 luxury apartments in Gurugram for Rs 7,200 crore within three days of pre-launch amid strong demand for residential properties. In a regulatory filing, DLF announced "pre-formal launch sales of approximately Rs 7,200 crore for its latest luxury residential development, <keyword id="20105111" type="General" weightage="20" keywordseo="dlf-privana-south" source="keywords">DLF Privana South</keyword> in Gurugram." In March last year, DLF had sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days. Now, DLF has launched new project 'DLF Privana South' which is spread over 25 acre in Sectors 76 and 77, Gurugram. "This luxury residential offering by DLF was sold out within 72 hours, in its pre-launch phase," DLF said. The project will comprise 1,113 luxury residences across 7 towers, presenting 4 BHK apartments and penthouses. DLF Privana South will be part of a larger development, "DLF Privana" spread over 116 acre. Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd, said, "The swift pre-launch sellout serves as a testament to the increasing demand for high-rise luxury developments by DLF, delivering the highly aspirational DLF lifestyle." To discourage bulk bookings, each buyer was allotted only one unit, with about 25 per cent of the sales coming from Non-Resident Indians (NRIs), and a booking amount of Rs 50 lakh. DLF has developed more than 158 real estate projects and developed an area in excess of 340 million square feet. DLF Group has 215 million square feet of development potential across residential and commercial segment. The group has an annuity portfolio of over 42 million square feet. DLF is primarily engaged in the business of development and sale of residential properties (Development Business) and the development and leasing of commercial and retail properties (Annuity Business).

Gone in 3 days: DLF sells 1,113 luxury flats for Rs 7,200 cr in new Gurugram project

Planning a second property as investment? Things to ensure before making the plunge

<ul><li>Gated communities are a hot favourite amongst not only NRIs but affluent Indian residents as well.</li><li>Chennai, <keyword id="6354552" type="General" weightage="40" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, and Mumbai are seeing the maximum <keyword id="11904949" type="General" weightage="100" keywordseo="nri" source="Orion">NRI</keyword> demand. NRIs are also showing notable interest in senior living real estate projects</li></ul> The non-resident Indians, better known as NRIs, might be having a Swades moment. No, they are not returning to their homeland but have been noticed as buying property in the country with gusto. In an interview to Business Insider, Saurabh Garg, Co-founder and Chief Business Officer at NoBroker said, “We have witnessed a 35% growth year-on-year in the investment of NRIs in Indian residential real estate. This burgeoning trend is especially evident in their preference for gated communities, which offer a host of amenities.” Gated communities are a hot favourite amongst not only NRIs but the affluent Indian residents as well. Just a month back, a Hyderabad-based construction firm launched a Rs 3,000 crore <keyword id="1775779" type="General" weightage="30" keywordseo="gated-community" source="Orion">gated community</keyword> project claiming that it is the biggest in the city which has steadily seen a rise in rentals in the past few years. Adds Garg, “These communities provide not only enhanced security but a host of modern lifestyle resources, all of which contribute to an elevated lifestyle and high returns on investment (ROI) should they decide to rent out or sell later.” The logic behind the rise in <keyword id="541044" type="General" weightage="80" keywordseo="nri-investment" source="Orion">NRI investment</keyword> The increased investment in Indian real estate by NRIs can be attributed to the ease of investment, owing to technological changes, especially as things are now online. The increased demand from NRIs is especially from the gulf countries, followed by Singapore, the United States, and Australia, says the NoBroker research. Chennai, Hyderabad, and Mumbai have seen maximum demand, but no surprises there. Parallel to this trend, NRIs are also showing notable interest in senior living real estate projects for their parents or grandparents. These properties usually have healthcare facilities or partnerships with nearby healthcare providers. Thus, their elders can have easy access to medical assistance within the comfort of their homes. “A substantial 65% (of the interested NRIs) are opting to purchase properties for personal use, either for themselves or their parents,” Garg adds. Other interesting trends The NoBroker half-yearly report points to some changing patterns in the Indian real estate market, especially when renting is concerned. 3BHK units in greater demand: Potential buyers from Bangalore, Chennai and Delhi-NCR prefer 3BHK units over the earlier favourite 2BHKs. The primary reason behind this is the hybrid work culture as there is a need for a larger space to work as well as live. Further Investments: For the first time in many years, property owners are getting the “asking price” for their properties. The report says that 40% of landlords are considering investing in a new property. Quick renting turnaround: On average gated society properties get rented out 30% faster than non-gated society properties, says the report. 52% of the surveyed in Delhi mentioned that their properties got rented out within a fortnight. This was 46% in Mumbai.

Indian real estate sees 35% rise in demand from NRI customers

<ul><li>75% of people looked to become first time <keyword id="6371902" type="General" weightage="20" keywordseo="home-buyers" source="Orion">home buyers</keyword> in 2022, compared to 41% in 2021. </li><li>68% respondents preferred a house in the heart of the city in 2022, up from 58% in 2021. </li><li>Nearly 40% of respondents sought 3BHK apartments, as compared to just 11% looking to own a 1 BHK apartment.</li></ul>Nine out of ten people prefer buying a ready-to-move-in house, than putting money in an under-construction property, according to the <keyword id="10404683" type="General" weightage="100" keywordseo="basic-home-loan" source="Orion">Basic Home Loan</keyword> Annual Survey of Homebuyer Sentiment. The annual survey aims to understand people’s preference in housing, with 1,200 responses across Delhi, Mumbai, Hyderabad, Bangalore, Jaipur, Kanpur, Lucknow, Indore, Bhopal, Ahmedabad, Surat, among others. There was also a big jump in terms of people looking to become first-time homebuyers in 2022. The number went up from 41% in 2021 to 75%. <cmsannotation type="cmsannotation" annotationid="Young people want secure investments" comment="subhead2" text="Young people want secure investments">Young people want secure investments</cmsannotation> The surge in first-time home buyers can be attributed to multiple factors including record-low interest rates in the first half of 2022, younger people moving out of their parent’s home to create a nest of their own, the growth in remote work opportunities, and greater buying activity in the single-family and affordable housing market. The survey also revealed that younger people buying a home early in their career has been driven by people looking for a secure and stable form of investment, as well as for the opportunity to start a family and create and attain long-term financial stability. “Growing disposable income among individuals is also a major contributing factor, allowing more people to buy <keyword id="41366" type="General" weightage="20" keywordseo="homes" source="Orion">homes</keyword> and begin their journeys as homeowners,” the survey said. <cmsannotation type="cmsannotation" annotationid="Homes@the heart of the city" comment="subhead2" text="Homes@the heart of the city">Homes@the heart of the city</cmsannotation> With 2022 easing Covid-19 restrictions and hybrid work model becoming the norm, 70% respondents said they prefer owning a house in proximity to healthcare facilities, schools and markets. While 58% respondents preferred a house in the heart of the city in 2021, the number has increased to 68% in 2022. A recent<a href="https://www.businessinsider.in/business/news/millennials-want-the-security-of-their-own-roof-over-heads-finds-cbre/articleshow/98120129.cms"> survey</a> conducted by property consultants CBRE also revealed that 75% respondents preferred a one-way commute time of not more than 30 minutes and most of them prefer to live around city centres. According to the Basic survey, there has been a significant drop in the homebuyer sentiment, when it comes to seeking property in the outskirts of the city. There were only 20% of respondents who wanted to create a nest far from the city, compared to 32% last year. “2022 saw a significant percentage of people working from offices or in hybrid mode. Even techies who were earlier demanding purely remote roles, are now becoming more flexible to the idea of hybrid work roles, given the changing economic scenario. These trends are fairly visible in the homebuyer’s sentiment this year in our survey,” said Atul Monga, founder and chief executive of BASIC Home Loan. With modern workplaces focused on providing flexibility, superior experiences and an enabling environment for their employees, online and hybrid work models became a norm this year. The trend was evident in homebuyers preference for larger spaces that can be used for their work requirements. Nearly 40% of respondents sought 3BHK apartments, as compared to just 11% looking to own a 1BHK apartment. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-march-2023/slidelist/98328260.cms">Upcoming cars launching in India in March 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/moodys-upgrades-indias-2023-gdp-growth-estimates-to-5-5-on-account-of-resilient-economy-higher-capex-allocation/articleshow/98326620.cms">Moody’s upgrades India’s 2023 GDP growth estimates to 5.5% on account of resilient economy, higher capex allocation</a>

The love for ready-to-move-in homes is going up says Basic Home Loan Survey

<ul><li>As per an <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword> report, as many as 2.73 lakh units have already been sold in 2022 between January and September. </li><li>“Inflation and interest rate hike couldn’t dent the buoyant homeownership sentiment across the nation,” said <keyword id="15322058" type="General" weightage="80" keywordseo="rahul-purohit" source="Orion">Rahul Purohit</keyword> of <keyword id="2902678" type="General" weightage="80" keywordseo="square-yards" source="Orion">Square Yards</keyword>. </li><li><keyword id="6361772" type="General" weightage="50" keywordseo="mumbai-metropolitan-region" source="Orion">Mumbai Metropolitan Region</keyword> (MMR), Bengaluru, Pune, Hyderabad and <keyword id="53426" type="General" weightage="50" keywordseo="ncr" source="Orion">NCR</keyword> have remained the most active residential markets in 2022 so far, both in terms of new launches and housing sales. </li></ul>The real estate sector is banking on the demand momentum it has seen in the last nine months to continue despite higher interest rates and biting inflation.The demand for residential property has seen a gradual recovery after successive lockdowns during the pandemic, with buyers looking for bigger homes. Non resident Indians too have been active since the pandemic started. Hopes are pegged on demand sustaining even during the festive season. “With real estate prices pegged to inch up in the coming months due to increase in input costs, the demand for properties have accelerated in the months prior to the festive season as homebuyers want to cash in on the opportunity now. With better-than-expected monsoon sales this year, a bumper festive season and record sales is on the cards,” Rahul <keyword id="6371276" type="General" weightage="80" keywordseo="purohit" source="Orion">Purohit</keyword>, national sales head, Square Yards told Business Insider India. As per an Anarock report, as many as 2.73 lakh units have already been sold in 2022 from January till September. This is a whopping 87% increase as against the corresponding period in 2021. “Inflation and interest rate hike couldn’t dent the buoyant homeownership sentiment across the nation as people are more confident today about real estate investment than earlier,” Purohit added. With work-from-home culture still prevalent, customers are preferring spacious homes in 2BHK and 3BHK configurations as they want more space for recreational purposes. Homebuyers are scouting for ready-to-move-in properties in the mid and premium segment in gated communities that come with huge open spaces, health and wellness amenities and open floor plans. “This demand for housing properties is further expected to breach the pre-Covid levels during this festive season,” Purohit said. Rising income and employment levels, increase in spending power, need for financial and emotional security, the penchant for bigger homes with upgraded amenities and the auspicious reason of buying a home during the festive season, have led to a surge in demand for properties this year. Festive quarter is also said to be the best performing season in the real estate sector. “If we consider trends from 2018 onwards, we can broadly say that the festive quarter (Oct-Dec) has been the best-performing quarter in respective years except in 2019,” said <keyword id="6420759" type="General" weightage="50" keywordseo="anuj-puri" source="Orion">Anuj Puri</keyword>, chairman at Anarock Group. Banks too have been launching festive offers like As a part of its festive bonanza, SBI is offering concessions of up to 0.25% on home loans, 0.15% on top-up loans, and 0.3% on loan against property. It has further sweetened the deal by waiving off the processing fees on home loans upto Jan 31, 2023. Demand for mid- and premium-segment houses to remain strong According to Puri, the mid- and premium-segment homes priced between ₹40 lakh to ₹1.5 crore will continue to be active in the upcoming quarters. “There is genuine housing demand in the market and the end-users are driving this demand,” Puri said. Premium and luxury segments are also doing better than pre-Covid times due to increase in standard of living among homebuyers and the need for bigger homes. Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Hyderabad and NCR have remained the most active residential markets in 2022 so far, both in terms of new launches and housing sales. In terms of new launches, there has been a 63% increase in the first nine months of 2022 against the same period last year, as per the Anarock report. Last year, in the first 9 months, as many as 1.63 lakh units were launched, while this year 2.65 lakh units were launched across the top 7 cities. This clearly shows the strong momentum in the housing sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kkr-invests-300-million-in-upl-subsidiary-advanta-for-a-13-33-stake/articleshow/95013297.cms">KKR invests $300 million in UPL subsidiary Advanta for a 13.33% stake</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/huls-q2-net-profit-grows-20-to-2616-cr-says-its-cautiously-optimistic-in-the-near-term/articleshow/95014467.cms">HUL’s Q2 net profit grows 20% to ₹2,616 cr; says it’s cautiously optimistic in the near-term</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-logs-sixth-consecutive-day-of-gains-amid-uptick-in-banking-stocks/articleshow/95012115.cms">Sensex logs sixth consecutive day of gains amid uptick in banking stocks</a>

You Searched For "BHK" and got 13 results

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