Gurugram: Affordable Realty NCR market seems to make an impressive rebound, although general gloom is triggered by a pandemic.
These inference can be taken from the latest projections by Anarock Real Estate Consultants and other industrial experts that around 50,000 affordable houses, including 16,000 in Gurugram, will be ready to be contested at the end of this year.
At present, several 1.8 lakh affordable houses (under Rs 40 Lakh) are in various stages of construction in NCR.
In Haryana, around 110 affordable housing licenses have been issued by the City and State Meeting Department (DTCP) since 2014, with the main share in Gurgaon and Sohna.
Even though around 80,000 units have been sold, only 22,000 are sent to date.
Industry experts say with the market opened and the business returns to normal, the housing real estate market seems to be back to its track.
Anuj Puri, Chair of Anarock, said that in NCR, a total of 1.16 housing real estate units are scheduled to be completed in 2021.
“Of these, at least 43% are in an affordable segment, 13% in the premium segment and 5% in the luxury segment , “he said.
Pradeep Aggarwal, chairman of the global group signature, agreed.
“Quick growth in places such as MG Road and Cyber ​​City produce ripples that encourage development to new areas such as new Gurgaon, Southern Peripheral Road (SPR) and Sohna.
Increasing the focus of the state government in affordable housing Helping in this environmental growth, where more than 40% of units are less than Rs 50 Lakh.
“Surinder Singh, Director of GLS Group, said that so far only 22,000 affordable housing units have been delivered even though around 80,000 units are sold in the past seven years.
“We estimate that around 50,000 units will be sent at the end of 2021,” he said.
Vikas Garg, Deputy Managing Director of MRG World, said that many people feel that the challenge is related to the generation of income during the second wave of Covid-19 will damage the housing market, causing consumers to postpone home purchases.
“However, the middle and medium-sized income housing segments witnessed significant movements,” he said.
City Planner District Hospital Batth, on his side, said that the department strictly monitors the progress of affordable housing projects.
“About 10 developers have served an exhibition notice to delay the completion of the 12 projects in Gurgaon.”