Based on the preferences of customers on its platform between October 2022 and October 2023, Magicbricks has observed that Millennials and Gen Zs (age group of 18-34 years) constituted 53% of the total demand for home loans in India. While male applicants contributed to 74% of this demand, female applicants constituted 26%.

The leading real estate portal also observed that 58% of the demand for home loans is for the affordable segment (up to INR 40 lakh). Gurugram was the only outlier, where demand for home loans of the ticket size INR 40 to 60 lakh was also significantly high (25%); followed by the demand for loans of INR 1 to 1.5 crore (13%).

Further, 80% of the demand came from residents in tier 1 cities and Mumbai (22%), Bengaluru (19%), and Noida (17%) lead home loan disbursements.

Elaborating on the same, Nimesh Bhandari, Business Head- Home Loans shared, “There is a discernible shift in the investment preferences of Gen Z and millennials towards real estate, mirroring a similar trend in the home loans category. With a stabilized repo rate, real estate remains an attractive investment asset for this demographic, and we expect a sustained surge in demand in the forthcoming months. To facilitate smoother home loan procedures, Magicbricks has already partnered with 50+ financial institutions and targeting a five fold growth, with enhanced convenience and accessibility for our customers”

Magicbricks also shared that HDFC, SBI and Bajaj Housing lead in terms of home loan applications on its platform.

Also Read: Stamp Duty Paid for Napean Sea Flat is Rs 3 Crore, Imagine its Cost

You May Also Like

MICL Unveils Avaan Tower 2 – India’s Tallest Ultra-Luxury Skyrise

MICL has launched Avaan Tower 2, India’s tallest ultra-luxury skyscraper at 306 meters in Tardeo. Designed by Hafeez Contractor, it offers opulent residences, breathtaking views, and 55+ world-class amenities, setting new benchmarks in luxury living.

Real Estate Dominates AIF Investments with Rs 75,468 Cr in H1 FY25

In H1 FY25, real estate led the AIF investment sector with INR 75,468 crore, reflecting a growing appetite for alternative investments. Real estate continues to benefit from tailored financing solutions, with Category II AIFs making up a significant portion of the total AIF commitments in India.

GCCs to Drive 40% of Demand for Grade A Office Space in India

Colliers report projects that Global Capability Centers (GCCs) will drive almost 40% of the demand for Grade A office space in India in the coming years. The report highlights the increasing role of GCCs, engineering, and BFSI sectors in the office space market, with major cities like Bengaluru, Hyderabad, Chennai, and Pune showing significant growth. ESG considerations are also shaping demand, with a substantial portion of office space expected to be green-certified.

Kangana Ranaut Sells Bandra Bungalow for ₹32 Crore, Earning ₹12 Crore Profit

Kangana Ranaut has sold her Bandra bungalow for ₹32 crore, earning a profit of ₹12 crore. Purchased in 2017 for ₹20 crore, the property faced BMC demolition during the MVA rule but has now been sold to Shweta Bathija of Kamalini Holdings. The deal was registered on September 5, 2024.