Following the Covid Saga The Luxury Real Estate Market in Gurugram is Flourishing

Following the Covid epidemic, demand for luxury residences in India has increased significantly; this is particularly true in the Mumbai, Goa, Pune, Bengaluru and also the Delhi NCR market, where some of the greatest estates offer a world-class lifestyle. 

With the increasing demand for luxury houses across the NCR, Gurugram's luxury homes provide the best alternatives for individuals seeking to live in the midst of greenery. 

As the home buyers' expectations have shifted as a result of covid, individuals are seeking paradise inside the confines of their own houses. According to studies and polls, property sales in the top seven cities increased by 71% year on year in 2021, after their first impact from the second wave.

Real estate developers have starting designing luxury homes that alleviate stress and are lifestyle friendly. Individuals are recognising the need of maintaining a healthy lifestyle, reclaiming their lives, and reconnecting with their inner selves. People have developed a greater awareness of luxury and premium over the previous year and a half, and things have shifted dramatically.

According to some estimates, the premium real estate sector (with prices ranging from Rs 90 lakhs to Rs 2 crores) accounted for almost one fourth of overall property sales. The luxury real estate industry is dominated by well-heeled purchasers seeking novel ways to escape daily life's boredom. As a consequence, NCR provides resort-style experiences as well as initiatives that promote natural living. Demand for bigger houses has exceeded supply in the Delhi NCR market, meaning that a successful project has a strong chance of being snapped up by buyers. To capitalise on the market's momentum, developers have expanded the quantity of new releases.

According to industry projections, up to 67 percent of high-net-worth people want to own luxury residences in 2022, owing mostly to a change in lifestyle. Additionally, the data indicates that a considerably greater proportion of NRIs are seeking for self-use residential units. In a recent study, the NCR was placed third in terms of luring NRIs, after Bengaluru and Pune, which speaks well for the region's luxury potential. The great majority of NRIs (about 90%) choose houses developed by reputable enterprises, which explains NCR's success in the real estate sector. 

The planned development, which includes the creation of sector roads prior to the commencement of a project, is a major pull for NRIs to the NCR, particularly Gurugram.

Luxury real estate in Gurugram has definitely made some solid foundation and this bustling city has become synonymous with luxury housing in North India. The demand for luxury homes in Gurgaon is surely being matched up with the supply of some of the best luxury developments and premium buildings.

The Gurugram area has the most demand for units priced above Rs 1 crore, followed by those priced between Rs 40 lakh and Rs 1 crore; the city has achieved this position owing to the availability of necessary infrastructure, development prospects, and professional services for clients.

Customers for real estate are projected to climb even more in the city as it undergoes a huge renovation. One such place is the Southern Peripheral Road, which is rapidly developing as a real estate hotspot. It is a vital route since it connects Golf Course Road Extension, Faridabad-Gurugram Road, Sohna Road, and the Delhi-Gurugram highway. Southern Peripheral Road is a desirable site for investors because to its proximity to important employment centres like as Udhyog Vihar, Cyber City, and office hubs on Sohna Road. 

Additionally, the presence of social facilities such as reputable schools, hospitals, and leisure centres elevates it to the status of a future porch and exquisite residential hub. SPR's seamless connection to major national highways and other prominent sites in the city, such as Sohna Road and Golf Course Road, as well as its proximity to social facilities like as GD Goenka Public School, Park Hospital, and Cyber City, making it an attractive residential location.

During covid-19, livability factors are substantially more essential than proximity to work when selecting where a homeowner want to live, and Gurugram has always satisfied residents' requirements. Residential property prices stability, closeness to important Gurugram office locations, well-managed facilities, and simple connection have all contributed to Gurugram homes' popularity with purchasers.