Why are independent floors gaining traction among homebuyers in Gurugram?

The end-users are inclined to invest in low-rise societies as they wish to inhabit chaos-free, low-density, and peaceful residential dwellings after a two-year-long health crisis.

Why are independent floors gaining traction among homebuyers in Gurugram?
The maintenance costs of independent floors are low for both end-users and developers.

The post-pandemic resurrection of demand for low-rise independent floors has brought a notable section of homebuyers to the Gurugram housing market. The end-users are inclined to invest in low-rise societies as they wish to inhabit chaos-free, low-density, and peaceful residential dwellings after a two-year-long health crisis, as per a report.

The Deen Dayal Awas Yojana (DDJAY) policy of the Haryana Government has provided a stimulus to the construction of low-rise residential projects. As a result, realtors are also announcing and launching independent floors, banking on government incentives, cost efficacy, and popularity of such projects.

Commenting on this trend, Rajesh K Saraf, Managing Director, Axiom Landbase, said, “It can be adjudged that luxury and uber-luxury independent floors have become the homebuyers’ top demand. It is a typical characteristic or trait of a luxury homebuyer to choose privacy, assimilation of overarching high-end recreational amenities, and advanced technological tools, which are all the prime-selling features of independent floors. Not only in Gurugram, but even Faridabad has seen a great rise in demand and availability of low-rise residential plots and floors, which has become a prominent choice of local populations.”

Industry reports have also provided valuable insights into the increasing number of launches in the category. According to estimates, there has been an upsurge of 42% in the launch of independent floor projects in Delhi-NCR. A JLL report revealed that around 74% of housing units released in Gururgam comprise independent floor units.

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Sanju Bhadana, Managing Director, 4S Developers, said, “The concept of Independent Floors is not a new one. It has existed since time immemorial. But modern-day buyers are now paying attention and investing in them as most of the recent independent floor constructions are low-density residential columns primarily built within gated societies. It obviates security risks and concerns. They are easily maintainable, with expansive bedrooms and hall spaces. They offer a much better natural view and communitarian amenity sets. The city pandemonium has naturally increased the health risks and pollution problems. That is why more and more people are settling down in independent floors, to evade city pollution and live in an eco-friendly premise. The low-density environment of independent floors promises a safe and hazard-free living atmosphere.”

Why are Low-Rise projects getting popular?

Low-Rise Homes are low on maintenance and high on comfort

The maintenance costs of independent floors are low for both end-users and developers. The number of floors are quite less in independent floors (usually 4-6) compared to high-rise residences which extends from 15 to 70 floors based on the permissible limits of different state governments. This doubles and triples up the maintenance costs in high-rise societies than low-rise colonies. Most homebuyers agree to pay a higher cost selling amount for independent floors in the lieu of lower maintenance costs, easy comfortable life, and peaceful and sedentary lifestyle.

Most low-rise floors are green and energy-efficient societies

Mostly, premium low-rise gated societies are earthquake-resistant structures and have a much better shelf life than high-rise buildings. The building plans emphasise on expanding the scope of green spaces, parks, lawns, gardens, and yoga and meditation areas. Many independent societies in Gurugram are IGBC-rated green buildings. They produce much less pollution and focus on minimum energy consumption with the usage of solar powered panels, lights, and energy-efficient resources.

Low-Rise societies possess a higher resale value

The chances of selling a low-rise apartment at good to reasonable cost are stronger in the latter stage of life, as reviewed by several real estate experts. Due to the low-density factor, the depreciation value of independent floors is less, thereby meaning that they wear down at a minimal pace, especially the premium and luxury segment compared to any other housing category. It envelops a higher resale value proposition, which is why they are heavily invested in Gurugram, as most businessmen and entrepreneurs evaluate these factors as well.

Millennials are gunning for Independent Floors

Millennials, which constitute a significant portion of real estate buyers, are desirous of investing in low-density housing formats in the coming years. The independent mindsets have pragmatically shifted them to adopt comfort and privacy-centric mindsets, which is moreover possible in independent floors. In this category, they are showing a proclivity to invest in high-end and luxurious low-rise condominiums and villas.

Focusing on High-Rise Apartments – Retaining its Charm

In the face of low-rise floors, high-rise apartments have not lost their charm or hold among buyers in Gurugram’s housing markets. There is also an abundant supply of high-rise residential societies and inventory in the region.

Talking about the same, Nayan Raheja, Raheja Developers, said, “High-rise apartments are still a timeless home investment choice for a large section of homebuying population. They are economical, provide a top-view dispensation, and exposure to natural light and surroundings. They offer the best-of-both-worlds, providing residents with a freedom of choice of exclusive living marked with privacy and also a chance of social networking and hobnobbing with other people. Many people due to citylife seclusion and hyper-privacy develop tendencies of anxiety and depression. In a high-rise society, one has an option to live a community-based life with maximum chances of possible interactions at festivals, society events, and parties.”

Ashwani Kumar of Pyramid Infratech said, “Sohna Road, Dwarka Expressway, and Golf Course Extension Road are prime hubs of high-rise societies in Gurugram. The increasing infrastructural cohesion has boosted the bankability of such projects, which are seeing an increasing number of buyers’ engagement, especially post-Covid-19. Developers are also focusing on selling the high-rise inventories and are announcing new projects in the same category.”

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First published on: 27-02-2023 at 14:34 IST
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