Gurgaon now experiences and sees an improved demand for mid-segment luxury apartments.
The growth of Gurgaon as a synonymous name for luxury housing segment was very fast. However the city is now witnesses more demand for mid-segment luxury apartments and residential properties.
Gurgaon was one of the top cities which have seen large number of launches in the top end luxury housing segment. Despite of the higher number of ultra-luxury launches, the demand was still more. The top earners for whom luxury is a way of living, these properties are nothing but what secures their happiness in life.
However, now the city is witnessing an altered demand. Gurgaon now is more demanded for mid-segment luxury apartments. Seeing this, the builders are also coming up with projects in the segment.
In fact the sky reaching property prices are said to be one of the main reasons behind the altered demand. With property prices rocketing in the city, top end properties are not so highly demanded now.
In the last quarter of 2012, more number of houses was sold between the ranges of Rs.60 to Rs.2 Cr. This segment alone held nearly 60 % of entire sale while houses in all other categories together formed only the remaining portion. More supply also is reported in this mid-segment luxury housing.
With the demand surging in this housing segment, there was a fall in the demand for luxury housing segment. CHD Developers Ltd COO Mr. Ravi Saund said that the builders were well-prepared to meet the increasing demand for this housing segment.
Mr. Saund added that the builders were keen to provide posh lifestyle and premium facilities within or just over Rs.1 Cr. Though vast number of projects was launched in this segment, still the builders are not able to meet the increased demand for this housing segment.
Moreover it is true that no developer wishes to be known as an affordable housing developer. On the other hand they all strive hard to provide homes with better facilities, making the buyers leaving no chance of attaining any affordable homes in Gurgaon.