The real estate sector in Gurgaon continues to propel ahead with a healthy growth, largely banking on the affordable housing sector. In the last quarter of 2020, as much as 87% of the new launches have come up under this category. Typically, properties that are priced less than INR 45 lakhs are considered to be affordable. With this healthy growth trend, Gurgaon continues to be one of the leading property markets in India. Particularly, this growth trend will take the government’s ‘Housing for All by 2022’ closer to reality. Besides, the middle and lower-income groups are looking for properties under the affordable category. With home loans and easy installment options available, an increasing number of property buyers are inclining towards these affordable homes.
From recent trends, it is evident that Gurgaon’s affordable housing sector has undergone a robust growth over the last few months. Besides, more people are realizing the value of owning a home. Traction in the real estate sector would, therefore, be increasing in the coming months. The leading real estate companies operating in Gurgaon have come up with several new projects. Besides, some of the branded developers are also venturing into the affordable real estate category. With the government easing up norms for the growth of affordable housing, people are investing in this sector.
Why are residents moving to Gurgaon?
Gurgaon’s developing infrastructure, commercial perks, and locational advantages make it ideal for residents. Particularly, corporate professionals and millennials are moving into the city in large numbers. The city forms an integral part of the NCR. Gurgaon is well-planned and has got a strong transit system. Residents can seamlessly navigate through the city to reach their offices and business hubs. A large number of MNCs and national companies also have their branches in Gurgaon. Besides, the airport in Delhi can be reached seamlessly from this zone. Therefore, people residing in the new estates in Gurgaon can enjoy these benefits.
Apart from the strategic location, the city has got a strong civic infrastructure. A number of affordable housing projects have been launched in Gurgaon over the last decade. Moreover, the city has witnessed a balanced development in the real estate front. Several commercial projects have also been launched, which eases up the lifestyle of the residents. With markets and shopping malls available in a close proximity of the homes, residents can seamlessly move to the places of their interest.
Most importantly, residents in Gurgaon can reach cities like Faridabad, South Delhi, and Dwarka in a quick time.
Affordable housing sector to drive real estate in Gurgaon
As evident from the figures, the demand for affordable housing projects in Gurgaon will be rising in the coming months. Besides, the pandemic has rendered a massive population with cost restraints. As a result, more people would be focusing on affordable homes, rather than luxury properties. With the PMAY scheme in place, purchasing residential properties under the affordable category has turned out to be relatively easy. All these factors define the steady growth trend of the affordable housing sector in Gurgaon.
