New Home Sales in Delhi NCR, MMR Mostly To End-Users: Experts
Nearly 90 per cent of housing sales in Delhi NCR region and Mumbai Metropolitan Region (MMR) during July 2020 to March 2021 were to end-users and the rest to investors, a new report by Anarock says.
The Delhi NCR region witnessed 21,750 units being sold in the period while the MMR saw sales totaling 47,140 units.
Bottomed-out prices, stamp duty cut and low interest rates also encouraged size upgrades (from 1BHKs to 2BHKs/3BHKs) in MMR. The report said all-time best affordability drew more first-time homebuyers in the NCR.
Amid the pandemic new normal with trends like work-from-home and e-schooling, 15 per cent of end-users in NCR upgraded to bigger property versus 65 per cent in MMR with average house sizes 950 square feet as compared to 1,250 square feet in NCR.
Aditya Kushwaha, CEO and Director of Axis Ecorp, said many consumers are investing in a second home.
"They are not just looking for a feature-packed luxurious home. With focus shifting to health, they want to invest in a second home that takes them closer to nature and offers ample ventilation and sunlight," he said.