Today: 25 July 2025
23 December 2020
1 min read

India To See Huge Boost In Home Sales In 2021: Report

Around 82 per cent of the people across the major cities plan to buy a residential property in 2021, according to a report by NoBroker.com.

The purchase sentiment among the people last year was 64 per cent. The report titled ‘India Real Estate Report 2020’ showed that 89 per cent of people consider the current phase to be the best time for buying a house.

It showed that more than half of these potential homeowners indicated a preference for society flats (61 per cent) over independent houses (28 per cent) or plots (11 per cent).

Around 84 per cent of home owners wanted ready-to-move-in or resale houses.

The survey showed that budget continued to remain the most important determinant in terms of choosing a property. The percentage of people looking to buy a house price over Rs 80 lakh has jumped substantially with almost 30 per cent buyers having this budget as compared to 17 per cent last year.

Distance from the workplace, a top factor from last year, saw a decline in the 2020 in the wake of the ‘work from home’ culture, as per the report.

The insights were derived based on a survey conducted across Delhi-NCR, Bengaluru, Mumbai, Pune, Chennai, and Hyderabad.

Speaking on the latest findings, Saurabh Garg, Co-Founder & CBO, NoBroker.com, said: “After surviving the peak of a global crisis and sluggish economy for the last 9 months, it is refreshing to see homebuying gaining prominence amongst Indian consumers in 2021.”

Growth chart. (File Photo: IANS)

He said that the pandemic has driven many changes such as a need for larger houses, suburbs gaining prominence, switch to digital modes of rent payment and larger number of people starting their home search online.

“People have realised the importance of security provided by physical assets in crisis situations and the home loan rate cuts and builder discounts have helped. These trends indicate a favourable environment for the real estate sector in 2021,” Garg said.

Also Read: Int’l Tribunal Rejects India’s Rs 10K Cr Claim Against Cairn

Also Read: World Bank To Lend $500 Mn For Green Highways In India

Previous Story

‘The Alchemy Of Process’

Next Story

Radhika feels determined

Latest from Business

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from the Ministry’s side is complete Union Minister for Communications and

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy, Pralhad Joshi, asserting that the country is empowering the Global

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units and marking a new milestone that highlights the company’s expanding
Go toTop