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Certain cities including Mumbai, Bengaluru and Pune are seeing increased demand for larger properties, with increased space requirements for recreational areas and workstations. Resale properties offer cost and carpet area advantages, typically starting 15-30% lower than new offerings in the same area.
Sales of completed or nearing-completion homes by first owners are booming as demand outpaces market supply, with prospective buyers increasingly viewing the resale market as a viable alternative. Factors contributing to this trend include a scarcity of newly constructed properties ready for immediate occupancy, a dearth of new developments, and escalating price hikes in major markets.
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