58% First-Time Homebuyers Prefer Plots Over Other Investments: Magicbricks

12 Mar 2025 CW Team

A Magicbricks poll found that 58 per cent of first-time homebuyers prefer investing in plots, citing higher appreciation potential and long-term capital gains. The survey, conducted among 2,200 homebuyers, ranked commercial spaces as the second most preferred asset at 17.1 per cent.

Platform insights from Q4 2024 show Bengaluru leading the demand for plots at 36.5 per cent, followed by Chennai (11.0 per cent) and Lucknow (8.9 per cent). Notably, 42.66 per cent of property buyers in Lucknow preferred plots over other real estate types.

Mid-sized plots of 1,000–2,000 sq. ft. dominated demand at 46.76 per cent, while 50.83 per cent of investors preferred plots priced up to Rs 50 lakh, reinforcing the trend toward affordable land investments.

In terms of pricing, the average plot rate stood at Rs 2,765 per sq. ft. in Hyderabad, where Shadnagar, Kadthal, and Sadashivpet were key supply hubs. Lucknow (Rs 2,836 per sq. ft.) and Chennai (Rs 3,208 per sq. ft.) also emerged as affordable plotted investment destinations.

Conversely, Gurugram (Rs 21,901 per sq. ft.) and Noida (Rs 22,523 per sq. ft.) were among the most expensive markets for plots. However, Greater Noida, with an average price of Rs 7,654 per sq. ft., presents a relatively affordable investment opportunity within the NCR region.

With developers launching integrated township projects to meet rising demand, plotted developments are set to play a crucial role in shaping India's real estate landscape.

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