58% First-Time Homebuyers Prefer Plots Over Other Investments: Magicbricks
Real Estate

58% First-Time Homebuyers Prefer Plots Over Other Investments: Magicbricks

A Magicbricks poll found that 58 per cent of first-time homebuyers prefer investing in plots, citing higher appreciation potential and long-term capital gains. The survey, conducted among 2,200 homebuyers, ranked commercial spaces as the second most preferred asset at 17.1 per cent.

Platform insights from Q4 2024 show Bengaluru leading the demand for plots at 36.5 per cent, followed by Chennai (11.0 per cent) and Lucknow (8.9 per cent). Notably, 42.66 per cent of property buyers in Lucknow preferred plots over other real estate types.

Mid-sized plots of 1,000–2,000 sq. ft. dominated demand at 46.76 per cent, while 50.83 per cent of investors preferred plots priced up to Rs 50 lakh, reinforcing the trend toward affordable land investments.

In terms of pricing, the average plot rate stood at Rs 2,765 per sq. ft. in Hyderabad, where Shadnagar, Kadthal, and Sadashivpet were key supply hubs. Lucknow (Rs 2,836 per sq. ft.) and Chennai (Rs 3,208 per sq. ft.) also emerged as affordable plotted investment destinations.

Conversely, Gurugram (Rs 21,901 per sq. ft.) and Noida (Rs 22,523 per sq. ft.) were among the most expensive markets for plots. However, Greater Noida, with an average price of Rs 7,654 per sq. ft., presents a relatively affordable investment opportunity within the NCR region.

With developers launching integrated township projects to meet rising demand, plotted developments are set to play a crucial role in shaping India's real estate landscape.

A Magicbricks poll found that 58 per cent of first-time homebuyers prefer investing in plots, citing higher appreciation potential and long-term capital gains. The survey, conducted among 2,200 homebuyers, ranked commercial spaces as the second most preferred asset at 17.1 per cent.Platform insights from Q4 2024 show Bengaluru leading the demand for plots at 36.5 per cent, followed by Chennai (11.0 per cent) and Lucknow (8.9 per cent). Notably, 42.66 per cent of property buyers in Lucknow preferred plots over other real estate types.Mid-sized plots of 1,000–2,000 sq. ft. dominated demand at 46.76 per cent, while 50.83 per cent of investors preferred plots priced up to Rs 50 lakh, reinforcing the trend toward affordable land investments.In terms of pricing, the average plot rate stood at Rs 2,765 per sq. ft. in Hyderabad, where Shadnagar, Kadthal, and Sadashivpet were key supply hubs. Lucknow (Rs 2,836 per sq. ft.) and Chennai (Rs 3,208 per sq. ft.) also emerged as affordable plotted investment destinations.Conversely, Gurugram (Rs 21,901 per sq. ft.) and Noida (Rs 22,523 per sq. ft.) were among the most expensive markets for plots. However, Greater Noida, with an average price of Rs 7,654 per sq. ft., presents a relatively affordable investment opportunity within the NCR region.With developers launching integrated township projects to meet rising demand, plotted developments are set to play a crucial role in shaping India's real estate landscape.

Next Story
Products

Mulroom Revolutionizes India’s Furniture Market

India's furniture market, a rapidly growing industry, has long grappled with inefficient supply chains, high costs, and limited customization options. Enter Mulroom, a tech-driven startup founded by Parikshit Guhabiswas, which aims to revolutionize the sector through a direct-to-consumer (DTC) model that empowers craftspeople and small-scale manufacturers while promoting sustainability. Mulroom tackles the industry's age-old problems by eliminating middlemen and implementing a lean, technology-enabled supply chain that cuts down waste and reduces costs. By leveraging AI-powered demand forecas..

Next Story
Infrastructure Urban

Build Capital Exits Second SRA Project with 19.76% IRR

Build Capital, an early-stage real estate financier, has successfully exited its investment in a Slum Rehabilitation Authority (SRA) project near Bandra-Kurla Complex (BKC), Mumbai. This marks another successful exit for Build Capital this year, highlighting its focus on delivering superior stakeholder value through structured real estate financing. Build Capital partnered with the developer during the early stages of the project, which had faced significant delays. Its investment facilitated the completion of rehabilitation works and the conversion of scheme parameters to DCPR 2034, enhancin..

Next Story
Infrastructure Urban

Chandak Group Celebrates Women’s Identity

Chandak Group marked this Women’s Day with a powerful and heartfelt gesture aimed at celebrating the individuality and strength of women. Instead of conventional celebrations, the real estate brand launched a meaningful campaign to honor the women who have made Chandak homes their own. The initiative offered every woman homebuyer a unique, personalized memento—a beautifully engraved, sustainable keyholder featuring her name. This thoughtful token serves not only as a keepsake but also as a recognition of her journey, achievements, and rightful space within the home. The campaign’s emot..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?