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Real Estate Companies Offers People Are Fulfilling The Dream Of A House, 85 Percent Of The First-Time Buyers

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Real Estate Companies Offers People Are Fulfilling The Dream Of A House, 85 Percent Of The First-Time Buyers-According to the Enarock report, between July 2020 to March 2021, 85 percent of the entire home buyers in NCR were first time home buyers.

In these 9 months, 21,750 homes were sold in NCR, out of which 90 percent were end users.After the primary wave of Corona, people have fulfilled their dream of becoming landlords amidst all the financial difficulties and other problems. For the primary time, home buyers have acquired the chance of home entry by removing the tenant’s stamp, amidst lockdown and other restrictions imposed in Corona.

Real Estate Companies Offers People Are Fulfilling The Dream Of A House, 85 Percent Of The First-Time Buyers

According to the Enarock report, between July 2020 to March 2021, 85 percent of the entire home buyers in NCR were first time home buyers. In these 9 months, 21,750 homes were sold in NCR, out of which 90 percent were end users.

Similarly, among the buyers of 47,140 homes sold in Mumbai Metropolitan Region MMR, there have been 90 percent and users. this suggests that only 10 percent of the homes in both the large land markets of the country were bought by investors.

Real Estate Companies Offers People Are Fulfilling The Dream Of A House, 85 Percent Of The First-Time Buyers

Big Houses Needed

In fact, in lockdown, most of the people started finding their rented houses small for work from home and online schooling. In such a situation, people needed big houses. Also, paying empty house rent to the people that had gone to their home town was also felt heavy. of these needs and circumstances prompted people to shop for their house after the primary wave of Corona.

Real Estate Companies Offers People Are Fulfilling The Dream Of A House, 85 Percent Of The First-Time Buyers

Mumbaikar Ahead During This Matter

Along with buying a replacement house, people also worked to convert their existing small house into an enormous house. However, MMR outperformed NCR during this case. consistent with the Enarock report, only 15 per cent of the people in NCR removed of small houses to enter homes, while in MMR 65 per cent decided to upgrade the homes .

One reason for fewer people not taking big houses in NCR is that the typical size of homes here is 1250 square foot , while the typical size of homes in MMR is 950 square foot .

Real Estate Companies Offers People Are Fulfilling The Dream Of A House, 85 Percent Of The First-Time Buyers

Reduction In House Prices In Ncr

Along with these small-sized homes in MMR, the reduction in stamp tax and therefore the interest rates rolled to rock bottom level also helped people plan to buy a much bigger house. The decrease in house prices in NCR became the most important reason for home buyers to become landlords.

An interesting change was also noticed this point that the buyers of luxury homes mostly looked for able to move homes. At an equivalent time, within the mid-size and affordable categories, customers showed generosity in buying homes for two years.

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