Across the nation, demand for independent builder floors is now surging, with Haryana emerging as one of the top markets. Particularly after the epidemic, demand for separate floors has grown significantly in Gurugram and Faridabad.
The idea of autonomous floors is not new in these two cities, according to the various reliable sources since there was demand for them even before the epidemic. The demand for independent floors has increased, however, as a result of the need for safer independent living following this health catastrophe.
In actuality, homebuyers view this asset class as a low-risk, low-capital investment that allows for a quicker exit.
Since 2020, Gurgaon have introduced a number of deluxe independent floors across DLF City in Gurugram and DLF Garden city in New Gurugram, and the market reaction has been amazing. The high-development infrastructure around these sites in both places has a significant impact on the performance of these separate floors.
Since the epidemic began, there has been an increase in demand for low-rise floors since they were designed with the space needs of families wishing to re-establish themselves in upmarket Gurgaon neighborhoods to live independently without sacrificing proximity to their loved ones in mind. A particular demographic favors separate floors over group living because they value some privacy and uniqueness and don’t necessarily need the community’s influence.
Gurugram is now an excellent location for both economical and luxurious houses thanks to its recent transformation from commercial to residential and condominiums to independent levels. JLL research indicates that more than 70% of Gurugram’s residential releases in 2021 will be low-rise independent floors. Six thousand eight hundred and fifty (684) separate floors that catered to higher mid- and high-end categories were among the 9,232 units that were introduced last year. These apartments typically have 1900 square feet in size. The pricing range for separate floors is from the mid-range to the high-range, respectively, from Rs 45 lakh to Rs 1.50 crore and above.
Independent floors are quite popular since they offer more room, privacy, and quick turnaround on projects. This is becoming popular, especially among HNIs who wish to invest in strong infrastructure, connectivity to great metropolitan sites while remaining remote, and enjoying the luxury of life. The Covid -19 epidemic is mostly to blame for this trend.
The reduced capital investment, flexible cashflows as marketability rises, low project execution risk, and quicker development turnaround are other reasons why developers are concentrating on independent floors.