Property News: Noida Extension in Delhi NCR is beating Gurgaon, Faridabad and Noida in this matter – in property market noida extension area became hot cake in delhi ncr
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Most organic search in these areas
Housing.com has put together a list of the most sought after localities in the top 10 major cities of the country. In that list, the names of those areas where the maximum organic search was done have been included. According to this, during the year 2022, the maximum number of searches were done in Thane West of Mumbai. After this, Whitefield of Bengaluru was in second place in the search. In Delhi NCR, Noida Extension area even beat Gurgaon, Noida, Greater Noida and Ghaziabad. In terms of residential property searches, New Town in Kolkata and Mira Road East in Mumbai were ranked fourth and fifth, respectively. Chandkheda stood at 6th position in Ahmedabad. It was followed by Wakad, Kharghar in Pune and Gota and Vastral in Ahmedabad.
Interest is increasing in the property of one to two crore rupees
Dhruv Agarwala, Group CEO, Housing.com, says there is a growing interest in new apartments and properties priced between Rs 1 crore and Rs 2 crore in major residential markets of the country. In the year 2022, the search for residential property worth Rs 1-2 crore has increased by 24 percent annually. In addition, home buyers are expected to search for new apartments with an increase of 52 per cent in 2022 as compared to the previous year. Inquiries for resale properties are expected to decline by 2% in 2022. Online searches for properties priced at 3 BHK and above are expected to increase by 1.4 times in 2022. Along with this, there is a lot of potential in Tier 2 cities as well. Online property searches for apartments are growing at a faster pace than for independent houses in those cities. Among Tier 2 cities, Lucknow emerged as the top city to buy a home. It was followed by Jaipur and Indore.
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Demand strong despite rising interest rates
Agarwala says that during the last one year interest rates have been increasing continuously. Despite this, residential property sales remained strong during the quarter as well. He says he is optimistic about the future of the Indian residential real estate market. The growth of this industry will continue in the coming years due to factors like urbanization, rising disposable income and favorable government policies.
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