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Plots and bigger homes demand to increase in Gurugram: Housing.com Research

Plots and bigger homes demand to increase in Gurugram: Housing.com Research

A latest research by Housing.com showed that the premium apartments will see significant homebuyer interest in Gurugram as 1.6 times more queries were recorded for properties worth INR 2 crore and above in 2021. According to some other reports, Gurugram accounts for more than half of new commercial supply in Delhi NCR, with roughly 30% of affordable and mid-segment housing.

“The Gurugram market in Delhi NCR, according to several reports, is performing well on many fronts, including the livability index. In the next 36 months, the city expects to see roughly 50,000 units delivered. We can say that the top developers alone will provide more than 30,000 units in Gurugram because we are dealing with them. Liquidity is the most critical issue, and it must be handled immediately. Furthermore, delays from the government must be avoided for the project to be completed faster,” says Kushagr Ansal, Director, Ansal Housing & President, CREDAI – Haryana.

The Housing.com research also points out that apartments with larger configuration will get a boost as home searches grew by 59 per cent YoY for properties with 3 & 3+BHK configurations.

“COVID-19 has instilled an urgency to live in places that can take care of every necessity of life; larger spaces and access to health infrastructure have come out as the deciding factors while choosing a residential property. Furthermore, when they evaluate their current demands and those that will arise in the coming years, nuclear families are opting for more spacious homes. Talking of Gurugram, we are noticing increased demand for healthier projects such as our Riyasat Farmlands that provide pure lifestyle. In other parts of the city also, the locations that are close to hospitals and provide vast green spaces are getting the utmost attention,” says Ar. Nayan Raheja of Raheja Developers.

The challenge would be to close the gap between demand and supply without sacrificing quality. When it comes to the overall situation in the country, the largest problem in real estate is to maintain the increased demand that has risen as a result of the pandemic’s consequences. Buyers have gotten more specific about what they want from a property, and only high-quality developments will be able to withstand this increased rush of informed buyers/investors.

Furthermore, research also highlights that plots will emerge as a prominent residential asset class in the coming year in Gurugram as 2.5 times more homebuyers searched for plots in 2021. Speaking about the trend, Pradeep Aggarwal, Founder & Chairman, Signature Global Group & Chairman – National Council on Real Estate and Housing, ASSOCHAM, said, “Independent floors in Gurugram are experiencing a boom in demand since they offer speedy and quality construction and are limited to four stories per plot along with a provision of many other premium amenities within a gated complex. The reason behind a significant boost in demand for independent floors was the Deen Dayal Jan Awas Yojana (DDJAY). Introduced by the Haryana government in 2016 as part of the PMAY programme to support the Centre’s ‘Housing for All’ plan, this concept aimed to build high-density planned communities with affordable and mid-range housing. The plan was initially designed for low- and medium-potential urban regions, but it included high-potential areas like Sohna and Gurugram.”

The research further says that Sector 57 and 49 along Golf Course Extension Road, Sector 67 on Sohna Road and Sector 105, 102 and Palam Vihar near Dwarka expressway will be key localities to watch out for in the coming year.

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