Ready-to-move-in flats in demand
With many real estate projects stuck across the country, prospective home buyers are shying away from investing in newly launched projects and instead looking for ready-to-move-in flats or units to be completed within next six months, according to a survey.
As per the online survey by property consultant ANAROCK, about 49 per cent respondents prefer ready-to-move-in properties while 35 per cent are looking to buy property which will be in ready-to-move-in stage within the next six months.
Eleven per cent participants favoured those properties that will be ready within a year and only 5 per cent buyers want to put their money in newly launched projects.
The survey was conducted in seven major cities — Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Hyderabad, Chennai, Kolkata and Pune — and saw participation of 2,621 people.
“Ready-to-move-in property has become the flavour of the season with buyers preferring to see what they get. More so, buyers prefer to stay away from risks associated with newly launched projects including incessant delays, few developers claiming bankruptcy or even carrying on with unscrupulous activities, etc,” ANAROCK said.