The pandemic has reinforced buyers’ preference for luxury homes and the segment is fast bouncing back
Luxury housing sector has many amenities and those who can afford them will find their investment worthwhile. According to a recent Anarock report, the pandemic has significantly altered previously dominant trends in the Indian residential market The premium segment (priced between 80 lakh to 1.5 crore) had the highest launch share of 36 per cent (approximately 13,130 units), followed closely by the mid-segment with a 32 per cent share (around 11,760 units) in 02, 2021 across major cities. Gurugram is one such city that has all sorts of amenities for a luxury living. More and more people are globe trotter and are acquainted with the lifestyle in foreign sail. With a vibrant culture, world-class cuisine, and a lifestyle at par with some of the most modern cities, today it is reconized as India’s millennium city, and home to a large expat community.
Karan Kumar CMO, DLF, says, “The modem city, with some of the most expensive commercial and residential real estate, has thrived in the past two decades, attracting millennials to ultra high net worth individuals, from across India and world over. In spite of being a fairly young city, it has managed to bring together same of the best residences, state-cif-the-art offices, world-class dining, shopping, and recreational avenues, all in one place, that makes it the trendiest and most aspirational city in India.”
Anupam Varshney, head, sales and marketing, Vatika Limited, says, “Gurugram remains the most preferred location for young buyers as it has a bit to offer in all the categories ranging from affordable to ultra-luxury. There are various reasons for the same with the most important one being connectivity — Gurugram is easily connected to Delhi via the Delhi-Gurugram expressway and Delhi Metro as well as Faridabad. Young professionals mostly look out for entertainment options in or around their vicinity and Gurugram is an entertainment hub with offering including gaming zones, kids play zones, simulation game zones, etc. The growth in the millennium city’s luxury and ultra-Luxury segment has been fuelled by the young working population with high incomes, changing lifestyles and global exposure. The developers offer several amenities which young professionals look out for near their place of residence. Most of the young generation prefers a high standard of living which Gurugram has to offer. With its improving infrastructure, commercial growth, connectivity etc. properties in Gurugram will offer a good return on investment in the coming years.”
Therefore, it is a win-win deal for the buyers to Invest in a fully equipped city near Delhi, supporting modern day living, and matching up with the needs of the urbanites.
HUB OF ECONOMIC ACTIVITY
Pankai Bansal, director, M3M Group points out, “Gurugram is home to more than 250 of the Fortune 500 companies and continues to be one of the largest hubs of economic activity in entire North India. With presence of large number of corporates, Gurugram provides most of the white-collar jobs, hence a preferred destination of the young workforce. Gurugram also boasts of one of the finest qualities of both physical and social infrastructure like schools, colleges, hospitals, shopping malls, cafes, multiplexes, etc. Gurugram is also the most cosmopolitan city in entire North India and has presence of a lot of credible developers with proven track record.”
The growth, particularly in luxury and ultra-luxury segments, has been boosted largely by young working population, with their high disposable incomes, lifestyle aspirations and international exposure. locations such as Golf Course Road, Golf Course Road Extension and Dwarka Expressway, are in constant demand, as projects here offer 24×7 security, futuristic designs, and state-of-the-art lifestyle features. Metro and Rapid Metro System have also played a huge role in the city’s growing importance in the corporate world, where most of the young population is. In fact the trend is likely in stay and gain impetus as Gurugram’s rapidly growing infrastructure and quality of construction, up-to-the minute lifestyle facilities, specifications and proximity to social infrastructure will continue to act as drivers for improved demand momentum.
Saransh Trehan, managing director, Trehan Group, says, “Homebuyers preference have changed since pandemic, Now more and more home buyers are interested in luxury builders’ floors, independent houses and villas that offers larger spate and exclusivity to occupants. Given that there is limited inventory of plotted development within Gurugram, areas like golf course extension road, Sector 67, are witnessing significant demand and appreciation in value.”
Ashish Tandon, president sales and marketing SS Group, concludes, “The growing interest in real estate as an asset class is backed by a customer segment that has a natural inclination towards spacious homes and privately-owned spaces post pandemic The future-focused cities like Gurugram with world-class infrastructure and many high-paying white-collar jobs have become the most sought-after choice of working professionals, corporate leaders, ex-pats, NRIs, HNIs, and others. The region has witnessed an immense transformation in infra upgrades over the period of time and factors like sound social infrastructure, sustainability, smooth connectivity to Delhi-NCR and planned growth will definitely catapult residential demand in the coming months”.