India’s appetite for plots almost at par with apartments, shows Magicbricks Consumer Survey

India’s appetite for plots almost at par with apartments, shows Magicbricks Consumer Survey


India’s appetite for plots has been growing at a rapid pace, resulting in a significant demand rise that today stands almost at par with that for apartments, reveals the latest Magicbricks Consumer Survey.

Apartments were the most preferred choice with 36% respondents voting for it, while plots emerged as the second most preferred asset with 34% votes. Around 20% of the respondents voted for independent houses and 10% for villas, it mentioned.

Demand on Magicbricks reflects that Bengaluru, Hyderabad, Chennai, Pune, and Lucknow have been witnessing the maximum demand. In terms of maximum supply, Hyderabad, Chennai, Lucknow, Gurgaon, and Pune top the charts.

“Over the last 12 months, we have seen a demand surge for larger configuration homes necessitated by the fact that home buyers are now either looking to buy or upgrade to higher configuration homes due to the continuance of Work from Home (WFH) policies. We have witnessed that most of the demand for plots has been in the range of 900 sqft to 1800 sqft. Property seekers today are looking for authenticity while searching for plots, and more than 30% of the supply on our platform are approved by local authorities, assuring our customers with a sense of security. Our plots category offers exclusive access to credible information and latest updates that would enable buyers take an informed and a smart investment decision,” said Sudhir Pai, CEO, Magicbricks.

In terms of localities, Yamuna Expressway (Greater Noida), Vishweshwaraiah Layout (Bangalore), Sultanpur Road (Lucknow), Mokila (Hyderabad), and Shamshabad (Hyderabad) have been witnessing a rise in demand. Shadnagar (Hyderabad), Yamuna Expressway (Greater Noida), Devanahalli (Bangalore), Sultanpur Road (Lucknow), and Sangareddy (Hyderabad) are the localities with maximum supplies.



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