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Latest ANAROCK data indicates that the time it takes for property seekers to convert to buyers (from first lead to actual booking) is reducing steadily and stands at about 26 days in H1 FY2025, against the highest peak of 33 days in FY 2021.
The lead-to-conversion time was at its lowest at 25 days in FY 2019 and FY 2024. If we compare the current trends with those of a year ago, there is an increase of a day in H1 FY2025 - it was 25 days in FY 2024.
A deeper analysis of the budget category data shows that ultra-luxury homes (priced >INR 3 Cr) involve the lowest conversion time, clocking in at just 15 days in H1 FY 2025. Back in FY 2024, it was 22 days - thereby reducing by a whole week
Out of all budget categories, buyers of homes priced between INR 50 lakh to INR 1 Cr took the most time (about 30 days) to decide on buying a home from the day they first got a lead to paying the booking amount.
The conversion for homes priced between INR 1 Cr to INR 3 Cr stood at 27 days in H1 FY 2025. In FY 2024, conversion time taken was highest for homes priced between INR 1 Cr to INR 2 Cr (32 days). Properties priced between INR 2 Cr to INR 3 Cr took 26 days to be booked.
Affordable homes saw a minor reduction in the conversion time – from 27 days in FY 2024 to 26 days in H1 FY 2025.
Essentially, buyers took a longer time to book homes in FY2021 than they are taking today, reflecting the currently strong demand momentum. Given that the last few years have seen a surge in new supply by branded developers, buyers feel empowered to make quicker decisions as confidence in these players is high.
