Can we Expect Affordable Housing as a New Norm in Gurgaon?

04 May 2021

Every inpidual dream of having his/her own house. Some are lucky enough to transform this dream into a reality, while others are still trying! But, this dream might prove to be more complex to come true if you are staying in Gurgaon. It is because this fastest developing city is considered to be highly valued. Also, purchasing a property here has never been easy for an average Indian here. But, with the onset of the pandemic, the real estate in Gurugram has started to fit in the buyer's budget. So, you can now quickly expect the presence of affordable housing project in Gurgaon.

Policy measures introduced by the Haryana Government

The Haryana Government has come up with a pool of policies that shall be quite beneficial in elevating the supply and demand of affordable housing projects. One of the most renowned initiatives by the government is encouraging the licensing of these housing projects.

According to the notable revised policy, the Haryana government has increased the area by two times. This is earmarked in each one of Gurgaon's 118 sectors. Overall, affordable housing is being developed in a total of 3500 acres area. This new policy would act as assistance in ramping up the significant licenses meant for affordable housing.

Facilitation of the Deen Dayal Jan Awas Yojana (DDJAY)

The DDJAY policy meant for the high density plotted developments has now expanded its wings over the Gurgaon-Faridabad Road's Vatsal Valley. It has already allocated over 75 acres intended for the residential development in that area. Also, the developers are now allowed to facilitate the areas with plot sizes 8.

Also, DDJAY has been revising the licensing norms prevalent under it. Earlier the minimum area requirement for any housing project was 15 acres but, now it has been reduced to 5 acres. With this, more and more people can look forward to getting affordable rates for the housing projects in Gurugram.

According to sources and many researches, it has been notified that more than 60 percent of the new housing sales in Gurgaon were affordable. This is a gradual percentage increase from the last year that accounts for around 47% in affordable housing.

New Gurugram: Brimming with affordable housing opportunities

New Gurgaon looks quite promising if we talk about the affordable market. There are a lot of residential options for the home-buyers in New Gurgaon, and they are available in a whole range from affordable ones to the luxury segments. It has got a lot better and highly competitive pricing as compared to Sohna Road and the Golf Course Extension Road. The average price rates here are around INR 4,800 per sq. ft, and it is 70% less than Golf Course Extension Road and 130% lower as compared to the Sohna Road.

At New Gurgaon, you can witness two major kinds of residences- high-rise flats as well as the G+2 independent builder floors. The majority of them belong to the ready-to-move category. New Gurgaon is a highly preferable location for every home buyer out there since it is ideally located. It doesn’t reside quite deeper into the city, nor is it too much on the city’s outskirts.

In a nutshell

Gurgaon is becoming more affordable, and it is because it has started trying to fit in the shoes of the home buyers. If you want to get an affordable housing project in Sector 103 Gurgaon or any other sector, feel free to rely on Mahira Homes. We have abundant years’ of experience in this field. With our desired skillet and knowledge in real estate, you are surely going to get your dream home!

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