Low Rise Independent Floors Launches Increased to 70% of Gurugram Residential Launches in 2021
According to a report by JLL, in the calendar year 2021, 74 percent of the total projects launched in Gurgaon constitutes of independent floor units. The demand for the independent floors from high-end customers has increased drastically.
Total of 16,418 units were introduced in Delhi NCR out of which 6850 are independent floors in Gurgaon.
As per report, total of 42 percent increase is recorded in the number of independent floors in Delhi NCR and 74 percent in Gurgaon in 2021
After the Covid-19 crisis the demand for independent floors has increased drastically. The prominent developers have already launched their independent floors in last 2-3 years and are expected to deliver more in the particular segment to meet the increased demand in the market.
The demand for plots and villas has also gain momentum. A total 2,569 units were launched in 2020 and 2021 in Delhi NCR.
Most of the independent floors project are launched in Golf Course Extension Road, Dwarka Expressway (Sector 37D), New Gurgaon (Sector 81, 89, 92), Sector 73, DLF City Phase II, III and IV and Sohna.
The projects are catering to upper mid and high-end customers. The average size of these floors is approx 1900 Sq ft.
Samantak Das, Chief Economist, and Head Research and REIS, India, JLL says “The domestic economic recovery and the consequent improvement in market sentiment in the residential segment, as buyers made a strong comeback to the market, instilled the confidence in developers to strategically launch projects across Delhi NCR in 2021,”.
He further says “More buyers now give preference to bigger homes amid the rise of work from Home, hybrid culture, and e-schooling. The dominant configuration in these upcoming independent floor projects is 3BHK and 4BHK, with the additional room now becoming a good-to-have need from buyers and developers responding with such flexible home types,”.
The places where plots and villas got launched in Delhi NCR include Pari Chowk in Noida, Greater Faridabad (Sector 77, 81,83,84), Dwarka Expressway, Sector 82, Sector 88B, and Sector 70 A in Gurugram.
Manish Aggarwal, Managing Director, North & East India, JLL says “Plotted development has also gained momentum as it provides the benefit of flexibility and customization to the prospective buyers as they can build their houses according to their taste and preferences. In certain cases, developers also offer services for construction to create bespoke houses for the buyers,”.
He further added “In terms of demand, plotted developments and independent floors are gaining significant traction as buyers are increasingly looking at staying in low-rise independent floors which by design are low-density developments and are now mirroring gated condominium communities with more open spaces,”.