Gurgaon: An Important Real Estate Hub
Gurgaon within the last two decades has grown to become the best real estate destination within our country, luring foreign investors who have fueled real estate projects aimed at every financial class. In the last few years, however, affordable housing has equally been embraced by the low and mid segment class consumers who are mainly the end-users. This is a definite pointer that a big chunk of the society in Gurgaon still live in rental houses as they cannot afford to buy a house in any of the business class societies as property values have greatly increased in appreciation to such an extent that it is out of their reach.
Meeting the Housing Needs in Gurgaon
In light of Gurgaons’s population growth and the attractiveness, the government has put up a plan with clear timelines and objectives to address the housing requirements of the low and mid-segment families. It has been noticed that the percentage of affordable houses to the total houses in the real estate sector of major cities in the country has been decreasing over the years. Nevertheless, it cuts across many slums, and over the last decade, a lot of housing schemes were undertaken by real estate builders to cater to this class, and it has worked.
Problems Affecting Lower Income Housing
This could be attributed to diverse reasons; the amenities in the residential housing societies under the affordable housing coverage are relatively few compared to the amenities in the non-affordable housing societies. The average crowdedness in an affordable society is about three times of a non-affordable society, and in the affordable societies parking facilities, maintenance conflicts and other such similar problems are widespread advocates for the same. In light of these problems, the government has, however, eased some of the stringent conditions imposed on real estate promoters on the affordable housing policy. But, increasing prices of land and construction material are turning out to be serious barriers for real estaters.
Increase in Sales of Luxury Homes
Yay, even so, the region has recorded a phenomenal increase in the sales of luxury houses especially in the NCR cities such as Gurgaon. This may be because of the increased demand for such massive structures for esthetic living which signals a continued rebound of the real estate industry in the area. Market analysts in the housing sector argue that the combination of features that include strategic location, beautiful designs and modern facilities, security and going green may be the cause of the rush as such buildings, have beautiful designs and premier location – making them fit for many buyers who are poised to increase as the years go by.
Signature Global: Bringing Luxury to the Masses
Real estate promoter Signature Global has in this decade made it possible for a majority of the society that could not access similar facilities in extremely high-end projects to own decent luxury housing at an affordable price. Signature Global’s housing initiatives in the prominent parts of Gurgaon have occupied an elegant space, making it affordable for low- and mid-income families with floors and flats at an affordable price. Gurgaon still continues to establish itself as a very good place for both the high end and moderate income earner to reside.
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