What type of properties are home buyers seeking post lockdown?

As the country emerges from the lockdown in phases, homebuyers in tier 1 cities have once again started searching for properties on real estate portals, says the Magicbricks Propindex report.

Real estate prices in metros dropped by up to 5% in the April-June quarter

Q-o-Q change in volume of property searches on Magicbricks website in the Apr-Jun 2020 quarter. **Q-o-Q change in volume of active listings on Magicbricks website in the Apr-Jun 2020 quarter.

HYDERABAD
After rising by over 50% in five years, the prices of ready-to-move property in this
southern city fell by 5.2% in the April-June quarter. Majority of the searches were
for houses priced less than Rs 5,000 per sqft.
Most searched localities
Miyapur Rs 2,150-5,700
Gachibowli Rs 3,850–8,600
Kukatpally Rs 3,800–8,200
Jubilee Hills Rs 5,800-11,200
Nallaganla-Tellapur Rs 2,150–7,050
Kondapu Rs 5,300–8,100
Medchal Highway Rs 3,150–4,950
(Price per sq ft)
BENGALURU
The 2.8% price decline in ready-to-move segment washed away gains made in
last six quarters. The market is shifting to the affordable segment. A demandsupply mismatch is emerging in the less than Rs 5,000 per sqft segment.
Most searched localities
Whitefield Rs 3,800–8,750
Sarjapur Road Rs 3,750–8,350
Bellary Road Rs 3,950–9,900
Electronic City Rs 3,000–6,450
Kanakapura Road Rs 3,750–9,550
Bannerghatta Rd Rs 3,350–8,500
JP Nagar Rs 4,050–12,700
(Price per sq ft)
CHENNAI
The Chennai residential market grew by 2.3% y-o-y, but the pandemic pushed
prices down by 3.1% in the April-June quarter. As much as 87% of the demand is
for 2 and 3-BHK homes.
Most searched localities
OMR Rs 2,950–9,050
GST Rs 3,000–5,250
Porur Rs 3,800–7,200
Central Chennai Rs 6,100–18,700
Kolathur-Perambur Rs 4,250–7,800
Velachery Rs 4,150–9,000
Medavakkam Rs 3,700–5,750
(Price per sq ft)
DELHI
The downward price trajectory continued in the under-construction segment,
falling 1.6% q-o-q, as the Covid crisis and unsold inventory added pressure.
Demand-supply mismatch in the affordable housing segment is evident.
Most searched localities
Dwarka Rs 3,550–10,750
M G Road Rs 3,300–5,650
Vasant Kunj Rs 10,500–19,300
Saket Rs 4,300–8,700
Janakpuri Rs 7,050–12,550
Mayur Vihar Rs 7,050–13,950
Uttam Nagar Rs 3,350–5,300
(Price per sq ft)
PUNE
Prices in ready-to-move segment grew just 3.5% in fi ve years. Prices of underconstruction homes have remained flat.

Most searched localities
Hadapsar Rs 3,900–10,100
Airport Road Rs 5,200–12,050
Dhayari-Narhe Rs 3,250–8,000
Baner Rs 5,250–9,250
Kondhwa-Wanwadi Rs 4,400–10,900
Paud Road Rs 4,650–12,350
Wakad Rs 5,200–8,950
(Price per sq ft)

KOLKATA
Ready to move homes have become marginally cheaper. Mid-segment confi
gurations (2 and 3 BHKs) continue to drive most traction.
Most searched localities
Newtown-Rajarhat Rs 2,500–5,950
North Kolkata Rs 2,100–8,250
Central Kolkata Rs 3,200–16,400
South-West Kolkata Rs 2,400–5,550
South East Kolkata Rs 2,750–9,150
South Extension Rs 2,750–5,850
Howrah Rs 1,900–4,600
(Price per sq ft)
MUMBAI
The ready-to-move market has posted negative returns over the last fi ve years.
Smaller homes (1 and 2 BHK) are most preferred.
Most searched localities
Beyond Mira Road Rs 3,350–7,350
Mira-Bhayandar Rs 6,150–10,550
Malad-Kandivali Rs 10,200–23,150
Andheri West Rs 9,150–31,050
Worli-Lower Parel Rs 24,700–51,450
Borivali-Dahisar Rs 9,150–23,450
Goregaon Rs 7,200–27,050
(Price per sq ft)