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Bigger homes, plots demand up, 2022 to see further growth

Bigger homes, plots demand up, 2022 to see further growth

The pandemic has turned homes into offices. And with it, the way prospective buyers want their homes to be. As the real estate sector is showing signs of recovery from the twin lockdowns, developers in the city have predicted that bigger homes and residential plots are most likely to be the preferred option among buyers in 2022.

Referring to the sales data for this year, many real estate consultants have said that queries in the city have increased by around 15% for apartments that are 3 BHK or bigger. There has been a 42% rise in buyers interested in bigger plots. The developers said the trend among buyers was driven by work-from-home policies adopted by most companies. And in the wake of the concern around the Omicron variant, properties with health infrastructure and security around them will be the most sought-after.

According to a real estate research and consultancy firm, around 1.3 lakh residential units were added across the top seven cities in the country, while sales were clocked at 1.4 lakh units, including inventory. But 2021 witnessed an upswing. Between January and September this year, 1.6 lakh units were added in these cities and 1.4 lakh of them were sold. Surinder Singh, Director GLS group said, “Due to the Covid 19, the homebuyers have realized the need for bigger homes and independent plotted houses.”

Since the pandemic, the demand for bigger houses and plotted houses in Sohna area had increased manifold and most of the people are working with big corporate houses, they are looking for bigger homes away from crowded areas. Also people were moving to relatively affordable areas such as the Dwarka Expressway, Sohna and nearby localities, said Surinder Singh.

 

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