India witnessed a promising start to 2021 until the COVID-19 pandemic derailed the road to recovery. The pandemic has underscored the significance of well-being and maintaining a harmonious balance with nature. It has also reaffirmed the significance of owning a home as opposed to living in rented accommodation with insecurities.
According to a report by Square Yards titled ‘Suitability Index: The COVID Perspective’, Gurugram is the most suitable city to live in the COVID-19 era, as compared to Mumbai and Bengaluru. The index determines the suitability of Indian cities by population density, open area ratio and the number of hospitals.
Gurugram has emerged as a sought-after realty hotspot due to its excellent connectivity to Delhi via the Indira Gandhi International Airport. It is also accessible via Manesar (Haryana) and Neemrana (Rajasthan).
“Owing to sustainable factors, including low population density, lesser population levels, vibrant health & social infrastructures, open space ratio and improved liveability index, Gurugram has emerged as the ‘destination-next’ in the residential segment. The pandemic has drastically shifted the priorities and aspirations of a modern homebuyer who now prefers health, wellness, comfort, luxury and overall well-being while making investment decisions. Ample green spaces with a mix of world class amenities matching global standards, upcoming benchmark projects, development of economic corridors, seamless connectivity and link to Dwarka Expressway are acting as growth catalysts that are poised to make Gurgaon one of the most liveable cities in the country,” says Pankaj Bansal, Director, M3M.
Gurugram is also witnessing infrastructural upgradation at a rapid pace. The inauguration of a cloverleaf interchange at the intersection of Central Peripheral Road (CPR) and Southern Peripheral Road (SPR) and the revamping of Southern Peripheral Road will allow seamless traffic movement. The area is also home to robust infrastructure such as schools and educational institutions, hospitals, banks and financial institutions, entertainment and recreation facilities and much more.
“Open spaces of around 40% of the total city area, number of hospitals (2.5) per 10,000 people and relatively low population density of 4200 people per sq km have made Gurugram a favourable residential hub. Also, the presence of numerous multinational firms has fuelled the rise of residential real estate in the city. Moreover, the close proximity to the Delhi International Airport has made the city a home for many expatriates. Rapid infrastructure improvements, large-scale projects such as Regional Rapid Transit System (RRTS) and the Delhi-Mumbai Industrial Corridor (DMIC) will further bolster the prospects of living in Gurugram,” informs Ashish Sarin, CEO, AlphaCorp.
The Covid-19 pandemic has established the fact that there is no place like home and that owning your space is more acceptable in contrast to living with insecurities in a rented house.
“Homebuyers these days prefer residences that can accommodate ‘space’ for remote working, with more outdoor open spaces and gated communities having state-of-the-art amenities. Customization of space has been expanded to such an extent that developers are offering complete open floors and designing them as per homebuyer’s requirements from a range of standout design options. This shift in preference is significant because of the Covid-19 pandemic and its socio-economic impact. Due to its robust social and public infrastructure, Gurugram has always been the most preferred residential address of NCR. Additionally, population density, a promising medical infrastructure, ample green, and open spaces have led Gurugram to be the most suitable city to live in amid COVID-19,” says Ashok Kapur, Chairman, Krisumi Corporation & Krishna Group.
Ashok Kapur, Chairman, Krisumi Corporation, says, “Post COVID-19, most of the population is now preferring a fully-equipped workspace, a dedicated area for fitness, a private space for their weekend meetups, a play area for children while considering other important factors such as location, ticket size, thoughtful design, and cutting-edge technology, etc. This has led to disruption in the overall approach adopted by developers while considering it as an additional component in their product offering. Anticipating this trend at the beginning of 2021, we at Krisumi have launched a new asset class 2LDK + personal workspace in our flagship project, Krisumi Waterfall Residences, Gurugram.”
Developers say bolstered by strategic location, excellent connectivity and the spate of infrastructural developments, Gurugram has emerged as a realty hotspot.
“COVID-19 has reaffirmed the significance of homes set amidst verdant greenery and open spaces for sustainable living. Gurugram has all the ingredients to ensure a premium lifestyle in harmony with nature, state-of-the-art amenities and provision for recreation. With low saturation potential, location advantages and initiatives by public and private players, Gurugram is poised to emerge as a sought-after residential address of the country,” says Vivek Singhal, CEO, Smart World Developers.
Additionally, the push by the Haryana government through policies such as the New Industrial Policy and improvement in the ease of doing business will also make it a sought-after residential hotspot in NCR.