Gurgaon: In the housing market in Gurgaon and Faridabad, the independent floor gets more traction than highrise apartments.
The reversal of this trend is associated with changes in buyers’ preferences due to pandemics and other benefits such as shorter ownership time, more areas and privacy.
According to the report by Anarock – Real Estate Consultant – The two NCR cities have witnessed the launch of 4,500 independent flats in the first three quarters 2021.
It accounts for more than 40% of the shares of the total supply of the same period in this case two cities.
Santhosh Kumar, Deputy Chair of Anarock, said two cities tended to add more than 20,000 independent floors during the following year amid high demand.
He said the main benefit for home buyers is that the time for ownership for independent floors is much shorter than highriss.
“With one flat built per floor, the family has more space and privacy than highrise apartments,” he said.
“In addition, Builder floor developers serve a smaller group of buyers.
Therefore, they can insert large balconies and windows, high-quality and pre-artificial wardrobes, and electrical supplies and pipes superior to the apartment,” said the report.
Parsh Trihan, Chair of the Group, said that with independent floors who get interests during a pandemic, even large developers have entered room with better layout and facilities because shorter construction times and monetization are faster than large projects.
Demand is expected to increase further during the celebration season, he said.
Chairperson of the Elite Basis, Navdeep Sardana said the increase in plot sales during the pandemic showed that people had started hunting property where they could have a healthy and guaranteed life.
“Demand for developments plotted has risen throughout the country,” he said.
On the side of the builder, the completion time of the development of independent flats is faster than highriss, providing opportunities for faster monetization.
Also, the money produced from the Builder floor began to flow in one year, while highriss needed at least four years to pay off.
Pradeep Aggarwal, chairman of global signature, said the independent floor was booming in demand because it offered construction that was fast and quality and limited to four floors per plot along with the provisions of many other premium facilities in the complex.
Demanding the independent floor flats, 4,500 for sale in Gurgaon and Faridabad this year, said report
