Many buyers and the millennial are transforming their mind-set for shifting to the peripheral areas for bigger homes to a far better lifestyle – at cheaper and affordable prices. With the booming business and technology environment and different culture, many of the future homebuyers are moving towards this city. The competitively-priced residential projects, strategic location and powerful connectivity network are the first reasons behind the increasing popularity in Gurugram.
The rise of Gurugram’s peripheral areas is primarily due to better connectivity, infrastructure, and urbanization. These areas have emerged as self-sustaining with enhanced infrastructure, services, and the presence of renowned schools, colleges, premium hospitals, and even prominent hotels.
The COVID-19 pandemic forced offices to adopt the work-from-home format, which was conventionally not an appreciated kind of working in India. However, as remote working became the norm, employers experienced improved productivity, reduced overheads, minimised wastage and more efficient output. For employees, this new work culture helped them to maintain a work-life balance, enhanced their motivation and assisted them in saving money than they would have otherwise spent, on travel or for paying for rental accommodations. Now, many large companies in India have announced or are likely to announce plans to ask a majority of their staff to work from home, albeit India has launched its vaccination programme against the Coronavirus.
The most popular types of housing in these areas are affordable and mid-segment housing. With a greater focus on affordable housing and growing demand from low and middle-income end-users, these regions, where more than 40% of the stock is priced under Rs 50 lakh, are seeing substantial growth.
The construction of the Dwarka Expressway was a benefit to the real estate sector, allowing for the long-term development of the Gurugram region. Road connectivity is crucial, along with other infrastructural upgrades in the region. As a result of the stretch’s construction, the area now has world-class potential for planned commercial and urban development. Both buyers and developers are striving for a fair share of the pie in this neighbourhood.
Simultaneously, Sohna Road grew in popularity, and it is now one of Delhi NCR’s top five most-searched neighbourhoods. The neighborhood’s appeal has remained due to various offerings in commercial, luxury, middle-income, and low-cost housing. South Gurugram, as it is currently known, has made a substantial improvement on many key livability index parameters, indicating that it has the potential to evolve into a self-sufficient city in the next five to seven years.