Latest news with #Magicbricks
Business Standard
a day ago
- Business
- Business Standard
From Aspiration to Acquisition: How Millennials Are Rewriting Property Desires
NewsVoir Delhi NCR [India], July 11: The Indian real estate market, notably the luxury segment, is undergoing a silent revolution, led by the millennial buyers. Termed as an "Aspirational Class," millennials aged between 25 and 40 include young professionals, entrepreneurs, and growing nuclear families who place a high premium on location, connectivity, and lifestyle enhancements. According to a recent Magicbricks survey, these buyers, who typically have annual family incomes of more than Rs 1 crore, are enticed by luxury and price stability. With increasing financial awareness and a clear grasp of property as a vital wealth-building instrument, this class is altering the housing market based on its unique preferences for desired me time, aspirational living, enhanced privacy and investment goals. For millennial homebuyers, preferences extend beyond four walls; they possess a strong inclination toward spacious layouts, wellness zones, lifestyle amenities, co-working pods, and tech-enabled security. From spa corners and reading lounges to sky decks and pet parks, these buyers are investing in experiences that offer both comfort and solitude. Developers are viewing the market dynamics through the lens of the millennial mindset. They are uniting elegance and everyday utility, and curating projects where personal well-being takes centre stage. One of the notable developers in NCR is Prateek Group, which emerges as a beacon of this evolution, with its marquee projects across the Noida-Ghaziabad region. It's projects like Prateek Canary and Prateek Grand Begonia, located in Noida Sector 150 and Siddharth Vihar, Ghaziabad (NH-24), respectively, that are raising the benchmark. Both projects reflect the deeper understanding of millennial buyers who seek a sanctuary that nurtures their lifestyle, aspirations, and sense of balance. Moreover, in NCR, the luxury home market has progressed beyond the realm of the wealthy. According to PropEquity, with a 66% growth in Gurugram's sales value alone, Delhi-NCR would overtake Hyderabad and Mumbai as the top-selling housing market in nine cities by 2024. With this, Delhi-NCR has already exceeded the sales value threshold of Rs 1 lakh crore. In 2024, sales in the top nine cities reached Rs 6.73 lakh crore, a 12% rise. Gurugram alone surpassed the Rs 1 lakh crore mark in 2024, while Delhi-NCR saw a 63% increase in sales value to Rs 1.53 lakh crore. Dr. Gautam Kanodia, Founder, KREEVA and Kanodia Group, says, "Delhi-NCR has long emerged as an active player in the luxury housing growth, holding several factors against the backdrop. We have seen millennial buyers remaining at the forefront of this evolution, steering the market toward a more lifestyle-focused and future-ready direction. This demand is quite visible in micro-markets like Dwarka Expressway, SPR, and New Gurgaon. These areas feature the right blend of green cover, connectivity, and premium amenities, which strongly appeal to this buyer segment, and the constant surge in luxury housing proves this trend. Hence, as developers, we envision catering to these buyers, offering them spaces that are immersive, artistic, and aspirational." Sandeep Chhillar, Founder and Chairman, Landmark Group says, "There is a visible behavioral shift among the younger homebuyers; they are constantly valuing quality, design intent, and developer trust. In Gurugram, high-potential micro-markets like Dwarka Expressway define this shift, attracting a major chunk of millennials. Hence, we align our developments with this transformation, and look forward to strategically expanding our presence in the region." Besides, millennials who are wealthy and often part of dual-income households view property as both a lifestyle upgrade and a long-term asset. With flexible financing alternatives and a greater understanding of market dynamics, they're willing to extend their budgets for homes that promise long-term value and a high quality of life. Rajjath Goel, Managing Director, MRG Group says, "Millennials are changing the definition of modern homeownership by opting to invest along thoroughfares like the Dwarka Expressway. Their emphasis has changed from traditional checklists to a more comprehensive approach that prioritises safety, sustainability, and lifestyle integration. They value control over how their home supports both productivity and peace. We believe this approach will continue making Dwarka Expressway a preferred destination not just for its infrastructure, but for its ability to host a more intentional, future-ready way of life." Ashwani Kumar, Pyramid Infratech says,"The rise of millennial homebuyers is reorienting how real estate is envisioned. Especially along SPR Road, we've witnessed an increasing appetite for premium addresses with high social capital. These buyers want a functional, aesthetic, and community-centric living space, and prefer intuitive design and smart features. As developers, we're incorporating elements that make homes truly versatile." Thus, millennial consumers are spearheading this shift with conviction and clarity, transforming ambition into purchase with each choice based on lifestyle, identity, and long-term worth. By comprehending and adapting to this new way of thinking, developers are not only satisfying consumer demand but also influencing the future of urban living.
Time of India
a day ago
- Business
- Time of India
Big cities = higher returns? A new report on real estate appreciation might just change your investment decision
Tier-II cities like Lucknow and Kanpur others have outpaced metropolitan hubs in real estate value appreciation, according to a report by MagicBricks. The report revealed that average capital appreciation in Tier-II cities rose by 17.6%, surpassing Delhi's 15.7%. This trend signals a rising preference among investors and homebuyers for mid-tier cities, driven by their potential for higher returns, according the report. This trend is most evident in North India, with Kanpur and Lucknow leading at 24.53% and 22.61% year-on-year capital appreciation, respectively, reported NDTV Profit citing the report. Other cities in the region reflecting a similar trend include Dehradun, Jaipur, and Patna. According to the report, this surge in property values is driven by a combination of strong demand and relatively affordable rates. For context, the average price per square foot stands at Rs 6,394 in Lucknow, Rs 6,986 in Kanpur, Rs 5,653 in Dehradun, and Rs 5,654 in Jaipur — significantly lower than Delhi's Rs 18,618 per sq ft, as per Magicbricks data. Live Events Value of homes rise in tier 2 cities Value of homes sold in India's top 15 tier 2 cities has increased by 6% to Rs 40,443 crore in Q1 2025 as against Rs 38,102 crore in the same period last year. According to NSE-listed real estate data analytics firm PropEquity, Lucknow with 25% increase in number of units sold in Q1 2025 at 1301 units registered the highest growth amongst top 15 tier 2 cities. This was followed by Coimbatore 21%, Gandhi Nagar 18% and Mohali 2%. Overall, the sale fell by 8% to 43,781 units in Q1 2025 as compared to 47,378 units in the same period last year. Other 11 cities saw decline in number of units sold in Q1 2025 with Visakhapatnam registering the highest decline (37%) and Ahmedabad and Goa recording the least decline (1% each).
Fashion Value Chain
a day ago
- Business
- Fashion Value Chain
From Aspiration to Acquisition: How Millennials Are Rewriting Property Desires
The Indian real estate market, notably the luxury segment, is undergoing a silent revolution, led by the millennial buyers. Termed as an 'Aspirational Class,' millennials aged between 25 and 40 include young professionals, entrepreneurs, and growing nuclear families who place a high premium on location, connectivity, and lifestyle enhancements. According to a recent Magicbricks survey, these buyers, who typically have annual family incomes of more than Rs 1 crore, are enticed by luxury and price stability. With increasing financial awareness and a clear grasp of property as a vital wealth-building instrument, this class is altering the housing market based on its unique preferences for desired me time, aspirational living, enhanced privacy and investment goals. Millennials reshape luxury housing with wellness zones, sky decks, and smart living features For millennial homebuyers, preferences extend beyond four walls; they possess a strong inclination toward spacious layouts, wellness zones, lifestyle amenities, co-working pods, and tech-enabled security. From spa corners and reading lounges to sky decks and pet parks, these buyers are investing in experiences that offer both comfort and solitude. Developers are viewing the market dynamics through the lens of the millennial mindset. They are uniting elegance and everyday utility, and curating projects where personal well-being takes centre stage. One of the notable developers in NCR is Prateek Group, which emerges as a beacon of this evolution, with its marquee projects across the Noida-Ghaziabad region. Its projects like Prateek Canary and Prateek Grand Begonia, located in Noida Sector 150 and Siddharth Vihar, Ghaziabad (NH-24), respectively, that are raising the benchmark. Both projects reflect the deeper understanding of millennial buyers who seek a sanctuary that nurtures their lifestyle, aspirations, and sense of balance. Moreover, in NCR, the luxury home market has progressed beyond the realm of the wealthy. According to PropEquity, with a 66% growth in Gurugrams sales value alone, Delhi-NCR would overtake Hyderabad and Mumbai as the top-selling housing market in nine cities by 2024. With this, Delhi-NCR has already exceeded the sales value threshold of Rs 1 lakh crore. In 2024, sales in the top nine cities reached Rs 6.73 lakh crore, a 12% rise. Gurugram alone surpassed the Rs 1 lakh crore mark in 2024, while Delhi-NCR saw a 63% increase in sales value to Rs 1.53 lakh crore. Dr. Gautam Kanodia, Founder, KREEVA and Kanodia Group, says, 'Delhi-NCR has long emerged as an active player in the luxury housing growth, holding several factors against the backdrop. We have seen millennial buyers remaining at the forefront of this evolution, steering the market toward a more lifestyle-focused and future-ready direction. This demand is quite visible in micro-markets like Dwarka Expressway, SPR, and New Gurgaon. These areas feature the right blend of green cover, connectivity, and premium amenities, which strongly appeal to this buyer segment, and the constant surge in luxury housing proves this trend. Hence, as developers, we envision catering to these buyers, offering them spaces that are immersive, artistic, and aspirational.' Sandeep Chhillar, Founder and Chairman, Landmark Group says, 'There is a visible behavioral shift among the younger homebuyers; they are constantly valuing quality, design intent, and developer trust. In Gurugram, high-potential micro-markets like Dwarka Expressway define this shift, attracting a major chunk of millennials. Hence, we align our developments with this transformation, and look forward to strategically expanding our presence in the region.' Besides, millennials who are wealthy and often part of dual-income households view property as both a lifestyle upgrade and a long-term asset. With flexible financing alternatives and a greater understanding of market dynamics, theyre willing to extend their budgets for homes that promise long-term value and a high quality of life. Rajjath Goel, Managing Director, MRG Group says, 'Millennials are changing the definition of modern homeownership by opting to invest along thoroughfares like the Dwarka Expressway. Their emphasis has changed from traditional checklists to a more comprehensive approach that prioritises safety, sustainability, and lifestyle integration. They value control over how their home supports both productivity and peace. We believe this approach will continue making Dwarka Expressway a preferred destination not just for its infrastructure, but for its ability to host a more intentional, future-ready way of life.' Ashwani Kumar, Pyramid Infratech says,'The rise of millennial homebuyers is reorienting how real estate is envisioned. Especially along SPR Road, we've witnessed an increasing appetite for premium addresses with high social capital. These buyers want a functional, aesthetic, and community-centric living space, and prefer intuitive design and smart features. As developers, we're incorporating elements that make homes truly versatile.' Thus, millennial consumers are spearheading this shift with conviction and clarity, transforming ambition into purchase with each choice based on lifestyle, identity, and long-term worth. By comprehending and adapting to this new way of thinking, developers are not only satisfying consumer demand but also influencing the future of urban living.
India Gazette
5 days ago
- Business
- India Gazette
Indian residential real estate market grows 3.5 per cent in Q2 2025, continues upward trajectory
New Delhi [India], July 7 (ANI): India's residential property market continued its upward trajectory in Q2 2025, posting a 3.5 per cent quarter-on-quarter (QoQ) increase in capital values, according to the latest PropIndex report released by Magicbricks. The report signals a period of steady yet stabilising growth, backed by resilient buyer demand and strong infrastructure development. The April-June 2025 edition of the PropIndex highlights a 4.6 per cent QoQ rise in demand, indicating a robust and dynamic property landscape. However, year-on-year (YoY) demand showed minimal change, with a modest 0.3 per cent increase. However, a notable trend seen in this quarter is slowdown in new housing supplies, it hits its lowest point in five quarters. Despite this, buyer interest remained strong, particularly in the affordable housing segment. Units priced below Rs 30 lakh and 1BHK homes continued to experience demand exceeding supply, creating competitive pricing pressures. Regionally, IT hubs such as Bengaluru, Hyderabad, Gurugram, and Noida showed a clear preference for larger 2BHK and 3BHK homes, accounting for nearly 80 per cent of demand in these cities. Meanwhile, the Mumbai Metropolitan Region (MMR) maintained its focus on compact living, with 1BHK and 2BHK units leading buyer interest. Cities with ongoing infrastructure development witnessed the strongest price appreciation. Pune (39.4 per cent YoY), Greater Noida (35.3 per cent YoY), and Kolkata (33.2 per cent YoY) stood out, driven by enhanced connectivity and major projects like the Navi Mumbai International Airport and Mumbai Trans Harbour Link. Commenting on the findings, Prasun Kumar, Chief Marketing Officer at Magicbricks, noted, 'The Q2 2025 PropIndex clearly indicates a maturing Indian real estate market, driven by genuine end-user demand and the transformative impact of infrastructure.' (ANI)
&w=3840&q=100)
Business Standard
22-04-2025
- Business
- Business Standard
Goa, Kanpur, Lucknow top the charts in property appreciation in 2025
Real estate in Tier 2 cities is increasingly outperforming Tier 1 counterparts in capital appreciation, according to the latest analysis by Magicbricks, a real estate platform in India. Fueled by infrastructure expansion, increasing affordability, and rising demand, Tier 2 cities are rapidly becoming the new growth hubs, delivering strong returns and capturing investor interest. The northern region is witnessing a pronounced surge in Tier 2 performance. According to Magicbricks, the average capital appreciation across tier 2 cities stands at 17.6%, outpacing Delhi's 15.7% by a significant margin. Kanpur takes a lead with a remarkable appreciation of 24.53% YoY followed by Lucknow at 22.61% YoY appreciation, both surpassing the national capital in terms of capital appreciation. While the average price in Delhi is Rs 18,618 psf, Lucknow (Rs 6394 psf), Kanpur (Rs 6986 psf), Dehradun (INR 5653 psf) and Jaipur (Rs 5654 psf) emerged as relatively affordable cities with competitive infrastructure to invest in. "Tier 2 cities in North India are no longer secondary markets—they're becoming prime investment destinations. With expanding infrastructure, increasing supply of modern housing, and rising demand from young professionals and first-time buyers, these cities are poised to play a major role in India's real estate growth over the next decade. Similarly, tier 2 towns in western India present a compelling investment opportunity, registering 22.3% appreciation—closing in on Mumbai's 20.3%. Goa, in particular, emerged as a frontrunner, recording an extraordinary 66.37% YoY capital appreciation, with average price touching Rs 13290 psf as against Rs 28921 psf in Mumbai. This spike positions Goa as one of the most dynamic markets in the region, driven by demand for second homes, rental yields, and tourism-linked investments," said Prasun Kumar, Chief Marketing Officer, Magicbricks. Affordability + Growth: Cities like Lucknow (₹6,394 psf), Kanpur (₹6,986 psf), and Dehradun (₹5,653 psf) offer lower entry points compared to Delhi (₹18,618 psf). Kochi (16.55%) beats Chennai (11.9%) in capital appreciation in South India; Patna leads in the East with 15.12%. Drivers of growth: Expanding infrastructure, increasing demand from young buyers, affordability, and rise in second-home and rental yield investments.
