The latest report by Square Yards titled ‘India Residential Overview: Jul-Sep 2021’ captures the residential trends across the top six cities in Q3, 2021. The cities covered in the report include MMR, Pune, Gurugram, Noida, Bengaluru, and Hyderabad
India's real estate sector has recovered remarkably from the downswing caused by the pandemic. The recovery, beginning in the last quarter of 2020 and catalysed by stable repo rates, stamp duty waivers, and low-interest rates, was temporarily halted in Q2 2021 amid the second wave of COVID-19. However, in Q3 2021, top realty markets were derailed from their recovery path, according to the latest report by Square Yards report
Properties in the budget bracket of Rs 30-60 lakh and Rs 60-100 lakh were the most searched by online property seekers in Q3 2021.
Interestingly, properties sized less than 1,000 sq ft. formed almost 50 percent of the online searches in Q3.
However, searches for larger homes inched up by varying degrees. While a quarterly rise of 7 percent was noted for the 1,000-2,000 sq ft category, homes larger than 2,000 sq ft recorded a rise of 5 percent in online demand in Q3, compared to the previous quarter.
The maximum searches for ultra-luxury properties sized above 4,000 sq ft were in Bengaluru with 31 percent share, while Hyderabad was second at 26 percent.
Southern cities of Hyderabad and Bengaluru displayed an inclination towards plotted developments with more than 50 percent inventory for the same in each city
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