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‘50% Delhi-NCR home-seekers prefer property near workplace’

50% Delhi-NCR home-seekers prefer property near workplace

Most home-seekers in Delhi prefer to buy one close to their workplace to mainly save time and money, says a study by OLX-Kantar TNS, which tracks changing consumer behaviour of potential home-buyers.

According to the survey, 50 per cent of home-seekers in Delhi-NCR wanted to own a home near their office, with 48 per cent of the respondents wanting it for investment and security reasons, while 45 per cent wanted better amenities, such as gym, swimming pool etc.

Consumer trends

More space, proximity to schools are some other factors favoured by potential home-buyers in the Delhi-NCR. Irwin Preet Singh Anand, COO, OLX India, said: “The report helps us in recognising emerging consumer trends in the real estate market. Delhi-NCR is one of the fastest growing markets in our real estate section, with one-third of the buyers seeking ready-to-move inventory, particularly in the NCR pockets closer to commercial hubs in Noida and Gurugram”.

“In the last six months, buyer interest had significantly jumped for mid-range two and three BHK properties among the working population, a ripple effect of the cut in home loan interest rates announced this year,” he said. “Further, government reforms like Goods and Services Tax and Real Estate Regulation Act will reduce the tax burden on consumers and increase their confidence, encouraging them to invest in the sector.”

Another trend noticed by the survey was the emergence of the ‘Walk to Work’ culture in metros, wherein people were looking for homes in proximity to their workplaces to save time and money.

Online platforms were one of the most used by those seeking a property in Delhi-NCR, with half of the respondents preferring it as their primary source for information and leads.


source : thehindubusinessline