There is steady demand for property in the resale or secondary market as we call it. The Indian real estate sector has witnessed a steady recovery of sorts with several pro-active measures from the Government. Additionally, with economic activity slowly picking up, there has been renewed demand in the resale segment as well. There is high demand for resale property in the country, particularly when it comes to a resale home in Mumbai or resale flats in Delhi. Buyers are now eager to purchase a resale flat in Kolkata or resale property in Noida as well.
There is also considerable demand for resale property in Ahmedabad and resale properties in Hyderabad as well. People also look for resale properties in Pune City amongst other resale properties in India. What type of property is usually in demand? Well, there is steady demand for 1/2/3 BHK resale flats in India mostly. This is because apartments are now considered more convenient as compared to the challenges of maintaining one’s own home. Apartments also come with basic amenities and are usually within gated living communities which is another major plus point as far as new-age nuclear families are concerned. Coming to soaring demand for resale property, this has always been a major phenomenon. One reason behind this is the price of course. Resale properties are usually slightly more affordable than their newer counterparts and this makes it more attractive for prospective buyers to consider the same.
Additionally, sometimes, buyers feel more comfortable buying a resale unit in a good location at a slightly lower price from a good family. They can see and inspect the unit with their own eyes and this fosters more confidence before buying. Once the papers are all in order and the building has been inspected, it is more comfortable to straight away move into a resale property once the transaction has been completed. As a result, there is no longer the need for buyers to wait for possession in this case. They can see and feel the home before buying and sense its vibe. The entire family will have a concrete idea of what to expect as opposed to any mismatches between fantasy and reality. This is why these units will continue to be popular in the country, representing a flourishing and thriving market by all means. The demand for these properties is only set to increase over a sustained period of time in India’s major cities