Gurgaon: Popular Metropolis of India
In our country, Gurgaon is one of the best places in the real estate business, and it is quite true that the real estate industry has grown into an area of the big importance alone or for many reasons, especially within recent years. As we know, affordable housing in Gurgaon has become a significant trend among the low and mid-segment class, who largely constitute the end-users. Even during periods when the property sector is not doing well and there are overall decreases in demand for properties in real estate, there still has been an increased demand of people looking for affordable housing in gurgan and neigbouring ncr areas. This shows that a sizeable portion of the population living in Gurgaon rents out its home since they are unable to buy homes in high-end societies because property costs are exorbitant.
Housing Factor – Affordable Housing vs Luxury Properties in Gurgaon
Gurgaon being a cosmopolitan city with ever increasing property rates, it is evident that affordable housing is a more suitable alternative for low and mid segment people instead of acquiring luxurious housing. Their prospects get boosted for rentals as well due to the inexpensive cost of the residences. With an increase of more than two hundred thousand people in the city every single year, it became imperative for the Haryana state government to tackle the problem of housing for all because Gurgaon put tremendous burden on the cities population. So heavy migration has affected the existing infrastructure but also led to illegal construction of colonies putting Dharamshala on the map of skyscrapers Mumbai.
Problems with Affordable Housing in Gurgaon
Affordable housing in India was introduced to address this soaring demand but more recently, the need for affordable housing has grown. The share of affordable housing has steadily decreased in total residential real estate markets as demand for the affordable housing segment are discouraged due to several reasons. The demand can be attributed to multiple reasons including the lack of amenities in the residential housing societies that are controlled under the affordable housing policy. Also, affordable societies are more crowded which lead to more issues like vehicle parking and maintenance conflicts. Furthermore, as this population of people mostly buy houses for investments or to live in, builders are further constrained by raising land prices and construction material which has risen as a result of government incentives for real estate developers.
Action Plans For Encouraging Socio-Economic Designs by Government
In order to counter these issues, Haryana state government has notably increased the ceiling in order to encourage developers to provide housing within the low and mid segment population range. A large portion of the population that belongs to constructive and middle classes has shifted their focus to Gurgaon as an “Ideal Location” for Real Estate Investments. To ensure that the availability of skyscrapers is complemented with low-rise buildings, the government has approved stilt plus four storied construction on independent land for budgeting housing construction.
For more information about Dream Location and to search your dream property, please visit Dream Location on Google Map. Contact us today to know more about the best real estate deals in Delhi and North India; we will connect you to the right property investment.