MUMBAI: Demand for residential properties increased 12.3% in the September quarter sequentially despite a rise of 8.3% in prices, a report released by Magicbricks showed. Noida, which is home to several corporates, saw the highest increase in residential prices with a growth of 16.9% on a quarterly basis. Gurgaon and Greater Noida followed with an increase of 15.5% and 15.1% in residential prices, respectively.
The demand was led by 3BHK units which accounted for 50% or more of demand in most cities. In Chennai, Navi Mumbai and Thane, 2BHK units remained the preferred choice, the report based on the preferences of over 20 million customers showed. Growing interest in under-construction properties also resulted in a capital appreciation of 11% q-o-q.