Why is Affordable Housing in Gurugram Selling like Hot Cake?

Being a corporate hub and home to almost more than 500 budding companies, Gurugram has been the hub of some premium real estate, which has triggered the demand for high-end housing projects, making the city a premium destination for the luxury residential projects. But since there has been a stop gap period in the Indian real estate industry starting from the far end of the last decade, developers have stopped investing much in the luxury real estate segment and have focused more on the affordable housing in Gurugram. As a result of it, the inventory of luxury real estate segment that is yet to be sold is increasing, and even the flats ranging in the mid-segment is also feeling a crunch in sales.

In fact, one of the striking change that the market has seen, not only Gurugram notices the paradigm shift in the real estate industry from luxury to affordable housing segment, but also the market has transformed from an investor’s market to the end user market. Gurugram being the preferred destination for corporate office spaces have also found substantial investment activity in the housing projects. As and when the developers found high return on investments that they have been making along with quick inventory sales from the mid-segment housing, the market moved up the particular line and made their entry into the premium and luxurious end of the spectrum.

However, experts have believed that the change has been in the making for the last couple of years, as there have been new corridors in the Dwarka Expressway region. Finally, when the Haryana Government launched the Affordable Housing Policy in 2013, a huge section of developers took to it, and home buyers immediately lapped up on the cheaper segment of apartments.

The rise in the industry that Gurugram has been a witness of is directly proportional to the economic development of the country. As more and more companies have started exploring the opportunities the place had and came up with broader operations, they always wanted to have the closest proximity to the national capital. Delhi couldn’t even think of accommodating these companies, and hence, what Delhi lost, Gurugram gained in no time. Right from the long stretches of expressways to the rapid growth of metros, the multinational organizations to international schools, Gurugram had everything that even Delhi couldn’t provide these companies.

The growing business of the e-commerce has even helped in adding to the glory. While the start-up online food chain companies made their market, the affordable realty market kept complementing this growth side by side. The ready to move flats in Gurugram Sohna Road has always sold like hot cakes, and people could find an affordable place to live. The growth of private companies with constant support from the state Governments has helped Gurugram make the most of the opportunity received.

Ajit Gandhi is a freelance writer with years of experience writing ona href=http://www.satyagroups.in/ top real estate companies in Gurugram. In this article he shares why Gurugram keeps finding new investors for affordable housing.