cities. However, active interest will take another 6-9 months to translate into buying activity as consumers expect prices to go up only after six months, post the 2014 elections," Magicbricks Business Head Sudhir Pai said.
Noida topped the list of cities with an HSI of 129 witnessing a 33 per cent jump Q-on-Q.
"The proposed metro link, emphasis on affordable housing projects and construction of software technology parks is making Noida a fast growing and attractive city to live in," he said.
The sentiments were muted by Mumbai, which ended last this quarter too with an HSI of 85.
"As the financial capital wrestles with a state of high supply with negligent demand, it is predicted that it will take 9 quarters to clear this inventory at current rates," Pai said.
The latest HSI report also introduces the seller survey to compare sentiments between sellers and buyers. The HSI of 156 for sellers was a lot higher than the buyer HSI.
According to the report, 29 per cent of sellers expected a 5-10 per cent increase in property prices. Nearly 38 per cent want to book profits while 30 per cent want to move to a bigger accommodation.
Properties in the Rs 20-40 lakh range are most preferred with over 30 per cent of buyers in this range, it said.
"Given the high construction costs, steady inflation, increasing bank loan rates and the looming elections, buyers are likely to use extreme caution before investing in property in the coming months," Pai added.