Since the last two decades, Gurugram has seen a modern reincarnation; from a small town to a hi-tech cyber city, the development can be defined in two categories —both spatial and demographical. Once a small, scantly populated town, Gurugram now experiences an increase in the purchase of premium residential properties and commercial complexes.
‘Gurugram is one of the leading A realty hubs in the Delhi NCR, with world-class infrastructure development. At present, there is a significant increase in demand for affordable housing in the city. Even during the pandemic when the real estate sector was not doing so well, the quest for affordable housing remained almost constant,” says Dinesh Sharma, MD, Pyramid Group.
The real estate market of Gurugram has always been performing exceedingly well due to its high demand.
This pulsating city is now on the radar of the country’s top real estate developers. Multiple residential, commercial and retail projects are under various stages of construction. “Gurugram, today, features among the top ten most liveable cities in the country. Various factors such as open area ratio, population density and decent infrastructure facilities make it far more liveable today than It was few years ago. Most importantly, amid the pandemic the city became a favourable al-ternative to the national capital largely because of the presence of large, gated housing communities with all amenities,” says Santhosh Kumar, vice-chairman ANAROCK Group.
Nothing Like A Good Location
Experts say there is a renewed interest among high-net-worth individuals (I-INIs) and non-resident Indians (NRIs) to buy real estate assets in Gurugram. Niche real estate developers here are leaving their mark by introducing projects that are a class apart. These developers are making their presence felt in prominent locations like Cyber City, Golf Course Road, Salim Road, MG Road, and others. Be it villas, bungalows, or penthouses -premium comforts are being made available.
Experts and developers unanimously agree that the global pandemic has altered the home-buyers preferences. There is a demand for new asset classes in the residential segment. Tapping this pulse, developers are making efforts to devise ways to attract homebuyers. They are providing residences that can accommodate space for remote working, with more outdoor open spaces and gated communities having state-of-the-art amenities. Most such projects are well-planned layouts.
“Covid-19 has further pushed demand for gated communities which have a self-sustainable ecosystem. These housing soci-eties offer companionship, safe and secure environment, while providing amenities that reduce the need to venture out. Since many of these large communities are located in Gurugram, buyers are also willing to move there as it gives them the added benefit of bigger homes and a better lifestyle at more affordable prices,” adds Kumar.
