In today’s world, the trends of buying homes have changes over the years. It was normal for prior generations to start purchasing or construction homes after retirement with their life savings. Today’s generation is completely different from the previous generations. Now, even a teenager wants to make money and live independently, which is a nice change.
Young Population of India: A Reality
As it stands, the population of India comprises a large percentage of youth, and this is true for many other countries as well. In fact, the reality is that India’s growth is fuelled by a vibrant and young population, who are more than 65% of the population aged less than 35 years.
Gurugram: Role of Youth in its Real Estate Growth
One could assume, rather correctly, that the majority of real estate buyers and investors in Gurugram belong to this age group. Such trends are a good testimony of the progress that India is making. Young generation want to buy homes and want to get married at a younger age rather than renting, and they would buy out of choice rather than renting.
In this way, the provision of home loans by banks at low interest rates, and housing subsidies from both the central and state governments, aim at solving the problem of homeownership in a structured housing layout.
The message when you provide subsidies is the government expects persons not to buy parcels in areas that have no planning, or no authority approvals or risk destroying those parcels.
Ready opportunities in Gurugram Real Estate propels Growth
The real estate business of Gurugram is supported by a large number of young allottees. Employment opportunities are huge in gurgaon as the development skyrockets every passing year. This pattern illustrates that Gurugram is developing a trend hence that makes it an appealing market for real estate agents looking to push property developments. The young allotees prefer independent flats or floors perhaps due to changing lifestyles that are more about privacy and safety. Thus, the concept of independent floors, flats and plots had picked up great interest from young population who are active in the real estate market in Gurugram in the past few decades.
Problem Faced Due to Rising Population
In managed situations, it is necessary to control the population growth. This is particularly relevant in India which has already surpassed China in terms of population. Wholistic growth of a nation can be stunted and achieving basic objectives such as nutrition and housing could become a challenge. The planned census of 2020 in India could not take place because of the challenges presented by the Covid-19 outbreak and is now set to happen in Ontario in the year 2024.
Providing Shelters to the Increasing Youth
Because of an increasing youth base, there are challenges for every government to fulfill housing requirements, which are further compounded by the socio-political context. It’s not just a question of providing housing units but developing appropriate systems too wherein the demand and the protection of the ecology is dealt with.
It is expected that the real estate promoters will find ways and means to work this compromise with the development units in a manner where this is achieved, with the expectation that they will incorporate environmental requirements in the design. One of the promotor’s Dream Location has also gone ahead to wider extent by adopting ‘green building code’ concept and zero waste discharge policy.
Conclusively, the graph of real state sector in India, and especially in Gurugram, seems quite profitable and beneficial since there is a continually changing youth. As the youth move to their dream locations, the factor of their community moving towards sustainability will be a key factor.
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