Top News

Mumbai: Spiraling housing prices that seem to bother most Indians, does not seem to bother Mumbaikars particularly.

A consumer sentiment study published by real-estate consultancy firm Anarock found 81% of Indians apparently concerned with skyrocketing residential prices.

The study conducted in the first half of this year analyzed responses from 8,250 respondents across fourteen major cities of the country.

India's Luxury & Premium Real Estate Soars With 36% Potential Homebuyers Choosing ₹90 Lakh To ₹1.5 Crore Segment As "Most Preferred" Option

Respondents from Mumbai and MMR (Mumbai Metropolitan Region), apparently showed a different trend compared to respondents across Indian cities. Barely, 39 percent of respondents from Mumbai expressed concern about affordability compared the national average of 81 percent.

The study found that 41 percent respondents from Mumbai were "moderately concerned" while 20 percent were not "worried at all".

With regards to affordable housing, the study found that:

• 62 percent prospective homebuyers were dissatisfied with the current availability of properties.
• 92 percent expressed dissatisfaction with project locations
• 90 percent found their projects to be of low construction quality and poorly designed.

The study also found that properties in a range of Rs 90 lakhs to Rs 1.5 crores emerged as "most favorable" option among 36 percent homebuyers; while 25 percent preferred homes priced between Rs 45 lakhs and Rs 90 lakhs.

Media reports have shown how housing prices in India have been on a sugar-rush since the pandemic. Data from the RBI's All-India Housing Price Index (RBI HPI) revealed a consistent growth in housing prices. As per data from RBI, the highest real-estate growth was attributed in FY17 while the index has consistently witnessed an uptick since 2012-13.

---