Changing Shape of Gurgaon’s Real Estate Market
The pandemic has entirely changed the way we used to live, work study or play. With WFH models taking place and study from home being in the trend, the demand for bigger homes that incorporate space for office, study, and exercise has risen. People are demanding larger homes for leading healthy life. The same has been seen in Gurgaon’s real estate market. More than 34% of respondents of ANAROCK Consumer Survey said they were looking for homes in bigger cities that range from Rs. 90lakh to INR 2.5 Cr. The luxury segment is dominated by elite class buyers that demand a different kind of escape from everyday life. That’s why Gurgaon offers projects promising resort-like lifestyle. Leading developers including Raheja Developers and Central Park are redefining the meaning of luxury in Gurgaon.
The Haryana Government is showing interest in facilitating the growth of real estate sector and has recently announced a new policy for change of land use to prohibit the haphazard development of farmhouses. It is encouraging eco-friendly dwelling units in the agricultural zones of state. The new regulation states that these properties should not be used for commercial purpose and must have 15% land reserved for green plantation. To ensure this, the Haryana Town and Country Planning Department has issued a policy that anticipates farmhouses as self sustaining units in the state.
Aryan Raheja of Raheja Developers describes the development in sector as advanced and said “The fatal Coronavirus has left everyone bewildered. People are now looking for stress free vacations. They are realizing the value of healthy lifestyle reclaiming with their inner selves. For the past one year people have been moving close to farmhouses, and things have altered tremendously. As a responsible developer we are aware of people’s requirements and will deliver products that meet their needs”.
Raheja Developer’s Riyasat Hills Farmland is sprawled over 100 acres and is one of the highest capital appreciatopn zones of Gurgaon near sector 95B Gurgaon. The project offers farmland of the size of 1 acres and above that can be used for organic farming, dairy farming, poultry farming, maintaining nurseries and practising horticulture, apiculture etc.
Property consultant says “The demand in Gurgaon is tremendous for projects providing a healthy lifestyle bringing people closer to nature. Almost everyone coming to us is getting attracted to healthy lifestyle. Gurgaon has dominated the NCR real estate market, and Gurgaon’s share of overall sales in Delhi NCR is expected to increase. The luxury market in the city (over 1 cr) stands out in the city, with the demand exceeding supply. In recent years, the percentage of luxury sales in total real estate transactions has risen. Projects that promote healthy living and bring people closer to the environment are in high demand. The residential market has piqued the interest of HNIs and residents from South Delhi, who have noticed that the world class luxury offers are worth investing in. To take advantage of the market’s momentum, the number of new launches in the sector has increased”.