2BHK houses witnesses 42% demand share from homebuyers
Real Estate

2BHK houses witnesses 42% demand share from homebuyers

While 3BHK designs formed over 40% of the residential supply in Bengaluru and Gurugram following the demand for larger housing units after three waves of the Covid-19, continued to be the most preferred by homebuyers in the first quarter (Q1) of 2022 with 42% of the total demand share.

According to a report by Square Yards, the demand for 1BHK housing units is also increasing. The recent announcements of property tax waivers on smaller configurations in Mumbai Metropolitan Region (MMR) and adjacent areas expected property price appreciation.

The Q1 2022 recorded a 42% share of the total online searches for 2BHK housing units, with a 3% increase, compared to the fourth quarter (Q4) of 2021, where demand for 3BHK homes dropped slightly.

The cities included in the housing report are Hyderabad, Bengaluru, Gurugram, MMR, Pune and Noida.

In Q1 2022, the residential segment in the top six cities recorded the launch of over 81,000 new housing units, up by 43% compared to the previous quarter of 2021.

From the top six cities, MMR dominated the new launches, accounting for 35% of the total share, followed by Hyderabad. It gained traction from significant developers, comprising one-fourth of the overall new residential projects in Q1 FY22.

The projects launched in the top six cities recorded a quarterly rise of 43%, with MMR bagging the highest share of 35%, followed by Pune, with 25% of the total new launches. With a 26% share of online searches in Q1 2022, MMR was the most searched city, followed by Hyderabad at 22%.

Mid-segment housing units around Rs 30-60 lakhs and Rs 60-100 lakhs were the most searched by online property seekers in Q1 2022.

Independent housing demand increases with a 27% share of the total property searches across the top six cities. South cities, including Hyderabad and Bengaluru, lead online searches with about 42% demand each for independent housing during the Jan-Mar quarter.

The demand for luxury and ultra-luxury residential spaces was more prominent in Bengaluru and Gurugram, with online searches 12% and 8% share, respectively.

Though new launches gains momentum in the other top cities, with over 2,100 new housing units launched in Q1 2022 in Noida, a drop of 14% was witnessed, compared to the last quarter of 2021.

Noida Expressway, which witnessed maximum new launches in the previous quarter, constituted only a quarter of the total share of the new projects. Noida Central bagged about 44% of the new project launches, followed by the sectors in Noida Extension.

With a robust residential activity in the previous quarter, the first quarter of 2022 witnessed the launching of over 3,800 new residential units in Gurugram.

The demand for mid-segment housing units in Q1 of 2022 formed half of the total online searches. The demand for the premium housing segment can be expected to increase in the upcoming quarters, with the need for spacious houses and rising property prices influencing buyer sentiments.

Image Source

Also read: Infra development boosts demand in Chennai, Bengaluru

While 3BHK designs formed over 40% of the residential supply in Bengaluru and Gurugram following the demand for larger housing units after three waves of the Covid-19, continued to be the most preferred by homebuyers in the first quarter (Q1) of 2022 with 42% of the total demand share. According to a report by Square Yards, the demand for 1BHK housing units is also increasing. The recent announcements of property tax waivers on smaller configurations in Mumbai Metropolitan Region (MMR) and adjacent areas expected property price appreciation. The Q1 2022 recorded a 42% share of the total online searches for 2BHK housing units, with a 3% increase, compared to the fourth quarter (Q4) of 2021, where demand for 3BHK homes dropped slightly. The cities included in the housing report are Hyderabad, Bengaluru, Gurugram, MMR, Pune and Noida. In Q1 2022, the residential segment in the top six cities recorded the launch of over 81,000 new housing units, up by 43% compared to the previous quarter of 2021. From the top six cities, MMR dominated the new launches, accounting for 35% of the total share, followed by Hyderabad. It gained traction from significant developers, comprising one-fourth of the overall new residential projects in Q1 FY22. The projects launched in the top six cities recorded a quarterly rise of 43%, with MMR bagging the highest share of 35%, followed by Pune, with 25% of the total new launches. With a 26% share of online searches in Q1 2022, MMR was the most searched city, followed by Hyderabad at 22%. Mid-segment housing units around Rs 30-60 lakhs and Rs 60-100 lakhs were the most searched by online property seekers in Q1 2022. Independent housing demand increases with a 27% share of the total property searches across the top six cities. South cities, including Hyderabad and Bengaluru, lead online searches with about 42% demand each for independent housing during the Jan-Mar quarter. The demand for luxury and ultra-luxury residential spaces was more prominent in Bengaluru and Gurugram, with online searches 12% and 8% share, respectively. Though new launches gains momentum in the other top cities, with over 2,100 new housing units launched in Q1 2022 in Noida, a drop of 14% was witnessed, compared to the last quarter of 2021. Noida Expressway, which witnessed maximum new launches in the previous quarter, constituted only a quarter of the total share of the new projects. Noida Central bagged about 44% of the new project launches, followed by the sectors in Noida Extension. With a robust residential activity in the previous quarter, the first quarter of 2022 witnessed the launching of over 3,800 new residential units in Gurugram. The demand for mid-segment housing units in Q1 of 2022 formed half of the total online searches. The demand for the premium housing segment can be expected to increase in the upcoming quarters, with the need for spacious houses and rising property prices influencing buyer sentiments. Image Source Also read: Infra development boosts demand in Chennai, Bengaluru

Next Story
Infrastructure Urban

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Next Story
Infrastructure Transport

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Next Story
Infrastructure Transport

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?