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Published on 27/02/2020 4:42:42 PM | Source: IANS

`Over 70% home buyers prefer sub-Rs 50 lakh property`

Posted in Industry News| #Industry #Real Estate Sector #Government

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Over 70 per cent home buyers in India prefer to purchase properties within the budget of Rs 50 lakh, a Magicbricks survey said on Thursday.

According to the Magicbricks' Consumer Poll, the most preferred budget segment was Rs 15-20 lakh, as 28 per cent respondents voted for it, while 25 per cent prefer the Rs 30-50 lakh price bracket.

The segments of Rs 20-30 lakh and Rs 50 lakh-Rs 1 crore were preferred by 23 per cent respondents each.

Commenting on the poll, E Jayashree Kurup, Head Content and Advisory, Magicbricks, said: "The recent launch of the Credit-linked Subsidy Services Awas Portal, (CLAP), has made it easier for consumers to track the status of their applications. This transparent and web-based monitoring system for tracking CLSS by beneficiaries is likely to add to the consumer excitement over being able to purchase affordable homes."

A Magicbricks statement said that Credit Linked Subsidy Scheme (CLSS) under PMAY has led to increased buyer interest in the affordable and lower-mid segment.

Emerging localities in the price bracket of Rs 4,000 per square feet to Rs 5,000 square feet observed the highest consumer interest on the Magicbricks platform.

With the aim of 'housing for all' by 2022, the government in the past few years has come up with a number of initiative for affordable housing, including CLSS.