Demand for plots, independent residential property ruled real estate market in 2018

  • | Wednesday | 9th January, 2019

Industry experts said, anticipation of better crop production is expected to boost the market sentiment and drive the real estate market. INDORE: Plots, independent houses and bungalows were hot picks in 2018 that fuelled the real estate market.The revenues from property registrations jumped close to 18 per cent in Indore district Demand for plots and independent residential property ruled the real estate market in the region and the trend is likely to continue this year as well, relators said. Festival season recorded significant bookings of residential premises mainly from end users. It has become easier to sell plots if you have a colony with good connectivity and amenities than flats in apartments.”Developers said, plots in the range of 600 sq ft to 1,000 sq ft are much in demand followed by affordable apartments. According to data from the registrar office, revenues from property registrations during April-December 2018 jumped by 17.63 per cent in comparison to a year ago.Balkrishna More, senior district registrar said, “During April-December 2018, plots and independent houses remained the preferred choices and jump in revenue is led by them.”Enquiries for plots and residential properties in resale have gained pace in the city and in outskirts areas due to economical range and higher chances of appreciation, real estate developers said.Real estate consultants said, demand of property in Rau and Mhow have risen sharply especially from service class customers employed in Pithampur due to high rate of appreciation in comparison to main city.Vijay Gandhi, secretary, confederation of real estate developers of India (CREDAI), Indore chapter said, “Even builders have started focusing more on plots because the demand is high.

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