New Delhi . In the Corona era, the demand for houses in the real estate sector had completely vanished. Most companies gave employees the option of work from home, due to which the demand for residential homes increased. This has been revealed in the survey of Magicbricks. At the same time, in some states, the sector has also benefited from the reduction in circle rate and reduction in stamp duty. Due to increasing demand for homes, demand for home loans is also seen increasing. About 38 per cent of the consumers want to get a home loan between Rs 30 lakh and Rs 1 crore.
Demand in these cities-
In the major residential markets of major cities Bangalore, Hyderabad and Delhi, a total of 46 percent of the main demand of consumers is in properties between 30 lakh to 1 crore rupees. Work from home, decrease in circle rate and stamp duty and low interest rate are the reasons behind the increase in demand. Apart from home loans, loan on property (LAP) and balance transfer loan are preferred in terms of consumer preference.
In this way the demand for home loan increased-
The survey says that about 20 percent of prospective buyers are planning to take a home loan of Rs 50 lakh to Rs 1 crore and above. Talking about this, Magicbricks CEO Sudhir Pai said that due to the steps taken by the central and state governments, we are seeing an increase in the demand for home loans for middle and upper class properties. The items being searched reveal that the demand for home loans is increasing rapidly among middle and high burgers customers.
Market sentiment based on demand –
Pai said that the sentiment in the market is in line with the demand and the average search of consumers is becoming a property worth Rs 34 lakh. This indicates that the demand for residential real estate is now increasing rapidly. Most of the demand is coming from the major residential markets in Bangalore, Hyderabad, Delhi, Mumbai and Pune.