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The Indian realty industry is facing a slump due to many reasons. As a result of the increase in the property rates, the potential home buyers are looking for something that fits well in their budgets. The popular trend of shelling those extra notes on owning a posh apartment in Gurgaon, Faridabad or for that matter, other parts of NCR is changing. People at places like Gurgaon, Manesar, Bhiwadi and many other important parts of NCR are opting for affordable housing segment. The days when large palatial flats were in demand have taken a backseat at places like these. The real estate developers are also focusing their interests towards affordable housing in Gurgaon.
2 BHK Residential
2,3 BHK, Penthouse Residential
1,2 BHK Residential
2 BHK Residential
2 BHK Residential
2,3,4 & 5 BHK Residential
Office Space, Shops Commercial
3 BHK Residential
1,2 BHK Residential
They are trimming down the apartment sizes in order to make the purchase affordable and attractive as the housing sales have dipped in the satellite town. Traditionally, the size of the apartments in Gurgaon varied between 1800 sq. ft. to 6000 sq. ft. which has now come down to 1000 sq. ft. to 1600 sq. ft. These smaller units are becoming more popular due to the affordability factor and also due to the changing profile of the customers. Since there are more of nuclear families and young couples rather than joint set-ups, or single persons living in the city due to professional reasons, affordable houses are much in demand and also it is much easier to maintain these units.
The grant of infrastructure status to these affordable homes in the Union Budget 2017-18 will further help the developers to borrow funds at a lesser cost. Realty developers have planned several New affordable housing projects in Gurgaon in areas like Dwarka Expressway, Sohna Road and Rajiv Chowk-Manesar stretch along National Highway-8. The Gurgaon–Manesar Master Plan 2031 also lays emphasis on these upcoming locales and their infrastructure developments like ISBT, Metro connectivity, KMP Expressway, and Northern and Southern Periphery Road in order to ensure swift connectivity.
The enhanced connectivity along with subsidized public transport will ease out all the travel woes within the city and to other parts also. There are several other infra development projects going on in these areas in the form of various business parks, comprehensive health-care facilities, shopping malls, educational institutes, etc. in order to cater to the growing population of the city.
These Affordable homes in Gurgaon come with a decent price tag and are beneficial not just for end-users but for the investors as well as the prices are expected to appreciate considerably in the future. There is a wide range of Upcoming affordable housing projects in Gurgaon announced by well-known names like Raheja Developers, ILD, Supertech Developers, Signature Global, etc. Thus, the trend of affordable housing is anticipated to bring a boom in the real estate of Gurgaon making the dreams of the low and middle-income group turn true, i.e. of owning their piece of earth in the fast developing place like this!
