WORLD-CLASS INFRASTRUCTURE, ANY NUMBER OF CONNECTIVITY PROJECTS, AND TIMELY DELIVERIES MARK GURUGRAM’S REALTY GROWTH. MAMTA SINHA WRITES
The Indian real estate sector in recent months has been witnessing increased interest from end users who are flocking to project sites to buy realty assets.
Even though the sector faced many challenges due to the Covid-19 pandemic, realtors in many regions are working hard to ensure that deliveries are made on schedule.
According to an ANAROCK report released recently, around 6.29 lakh housing units are either completely stalled or languishing under heavy-delivery delays across the Top 7 cities. The NCR has the maximum stalled stock of around 1,13,860 units, or 66% of the total across the Top 7 cities.
Thankfully, however, Gurugram is doing better than many other regions in the NCR. According to various reports, the Gurugram market in the NCR is performing well on many counts, including livability index.
The city is not only developing fast, many builders situated there are also making their best to deliver commercial projects and housing units on or before time to win the trust of homebuyers. No wonder, the city is all geared up for thousands of units to be delivered in the coming 36 months.
Raheja Developers, for instance, claims that it will deliver 8,400 units in FY 2021-22. Terming the developments in the sector as encouraging. Nayan Raheja of Raheja Developers said, “Now, developers and the government must work together to ensure that the pace continues to improve. The government has taken several actions, but more needs to be done to ensure that the real estate sector remains unaffected. The most pressing issue is one of liquidity which must be ‘- addressed right away. In addition, delays from the authorities must be avoided to ensure faster project deliveries.”
Signature Global. is all set to deliver around 9,920 housing units in the affordable segment and around 4,282 units in the premium segment in the coming three years in Gurugram.
Pradeep Aggarwal, founder and chairman of Signature Global, said: “We have consistently met or exceeded buyers’ expectations by delivering high-quality projects at affordable price before time. Gurugram is a potent real estate market and the current pandemic times have further increased demand for housing in the city.”
Infrastructural developments in the city are an indication of the fast-growing realty market there. The developments have ensured that the market is not restricted to a few pockets only.
Dwarka Expressway, Delhi-Mumbai Expressway, and the proposed link to the Jewar airport (under construction near Noida) are all pointing towards increased interest of buyers. The likely investments in various projects across the city are an indication of growing optimism of the developer community in the city.
Gurugram’s realty market has been the most resilient if we were to talk about it making a strong comeback after lockdown 1 and 2. Evident from the entry of newer players in the market and an upsurge in sales, the sector qualifies for top contributors to economic growth. The commercial segment is attracting investors here looking for guaranteed and higher returns.
“Gurugram is home to global IT companies and businesses, hence many new players are coming up with world-class projects in the city. The ever-expanding scope in Gurugram and the presence of large corporal ions have helped maintain interest of investors and buyers in the city’s real estate. The authority’s plans for the city are being complemented by real estate developments ensuring strong economic growth.” Property Consultant.