Is this the best time to buy real estate property in India? At least 89% of the respondents of 'India Real Estate Report 2020' survey think so. NoBroker.com, a popular real estate platform, has conducted a survey across Delhi-NCR, Bangalore, Mumbai, Pune, Chennai and Hyderabad to find the real estate trends in 2020.

This year started with COVID-19 pandemic and it has forced the world to change its regular habits. With global companies shifting their working habits, 'work from home' has become a new normal in a pandemic-stricken world. So, people are now taking more interest in owning a home than before.

The rate cuts in home loans, attractive offers by lenders, builder discounts and reduction in stamp duty charges in Maharashtra and Karnataka — are the reasons homebuyers are planning to invest in properties.

Around 82% respondents has confirmed that they are looking forward to buy a property in 2021. Millennials, who were used to rental lifestyle, are more keen towards buying a home this year, the survey reveals. "The 25-40 demographic constituted for about 49% of buyers until last year. This percentage has now rocketed to a whopping 63%," the survey mentions.

There has also been a sizeable jump in homebuyers' budget, the survey reveals. Majority of the buyers (58%) plan to purchase a flat within ₹60 lakh while 13% want buy a property within ₹60 lakh to ₹80 lakh. Around 19% respondents say that they are looking to buy a property within ₹80 lakh to ₹1 crore budget. "Last year only 10% contributed to that budget bracket," according to the survey. At least 11% respondents are looking to purchase a property over ₹1 crore. "This is also up from last year's 7%," the survey says.

As people are spending more time at home during coronavirus pandemic, the demand for bigger house has also been on a rise. As many as 29% respondents want a 3BHK, the survey fins. For 2BHK, 48% people give a thumbs up. Both the categories have witnessed a significant jump this year, according to the survey.

Around 57% of buyers prefer ready-to-move-in houses, while 27% look for resale, the survey says. "Due to stalled projects and delayed construction, buyer confidence in under-construction properties is very low as on 16% have shown interest in them," the survey states.

While 89% buyers are looking to buy a property for self use, 11% want it for investment purpose.

Considering the security, power back-up, maintenance, gyms and swimming pools,61% respondents want to buy an accommodation in a society. Only 11% buyers want to invest in a plot, the survey says.

Here are the top buying localities in Indian metro — Banashankari and Whitefield in Bengaluru, Madipakkam and Perambur in Chennai, Gurugram,Dwarka and Rohini in Delhi-NCR, Kukatpally and Madhapur in Hyderabad, Thane West and Panvel in Mumbai, Wakad and Pimpri Chinchwad in Pune.

If you want to Invest in India Gurugram is the best location where you are buying, renting or investing in Indien property.

Real Estate Agency Palam Vihar, Gurugram India

Real Estate Agents Palam Vihar, Gurugram India