Ready-to-move in properties preferred choice for Indians: PropIndex
Ready-to-move in properties have remained a preferred choice for homebuyers across the country and have managed to command around 3.7% premium over under construction properties, showed an index of property portal Magicbricks.
Around 46% of total 750 localities covered in this index across 14 cities have witnessed average price increase of 3.1% during the quarter ended December.
The Magicbrick's National Price Index (NPI) after remaining stagnant for almost two years had seen the first price gain in the July-September 2017 quarter and this has continued in December quarter with under 1% increment, the property portal said in a release.
The index, Magicbricks PropIndex, showed that the Rs 3,000-6,000 per sq ft price bracket, which accounts for more than 50% share of property searches, remained stable. The price difference between under construction and ready to move properties narrowed down during the December quarter and this is the sixth straight quarter of decline in price difference, bringing down the difference from a high of more than 9% prevailing six quarters back.
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