July 13, 2024 |
Greenscape – Surrounded Low-Rise Living: The Emerging Preference Among Homebuyers
In 2023, Gurugram emerged as the leader in India’s booming real estate market and continues to maintain its dominance in Delhi-NCR. According to data from Magicbricks, Gurugram experienced an impressive quarter-on-quarter growth of 28.9%, surpassing the national average of 10.4%. Major infrastructure projects like the Dwarka Expressway and the announcement of a dedicated Metro network have further fuelled the city’s real estate prospects.
As urban areas become more densely populated and high-rise buildings dominate the skyline, many homebuyers find the pull of low-rise independent floors—homes with fewer stories and more greenery—irresistible.
Following the pandemic in 2021, low-rise independent floors made up over 70% of new residential launches in Gurugram, according to a JLL report. However, in the ensuing period, developers shifted their focus to high-rise apartment complexes, leading to a decline in low-rise housing developments. Despite this, the demand for low-rise homes has grown stronger in recent years.
Several factors contribute to this growing preference for low-rise, green-scape-surrounded living:
Health and lifestyle benefits: Low-rise homes with green surroundings offer a healthy lifestyle and a high quality of life. Sprawling lawns, landscaped gardens, and tree-lined streets provide a serene and refreshing environment, particularly appealing to those who prioritize wellness and exclusivity.
Privacy and space: Compared to high-rise apartments, low-rise independent floors offer better privacy and more personal space. The sense of seclusion and the availability of more extensive personal areas are highly valued by modern homebuyers.
Environmental considerations: Projects featuring eco-friendly designs and green surroundings are commanding a premium in the real estate market. As environmental concerns grow, the benefits of nature-oriented living are increasingly appreciated. These green projects not only support sustainable living but also enhance the dweller’s well-being.
High returns: Low-rise independent floors owing to their enhanced privacy often yield high returns on investment. The demand for more spacious homes with enhanced privacy and security is contributing to the growth of this market segment.
Gurugram, known for its luxury housing, is witnessing developers respond to this trend by incorporating innovative designs that blend modern living with natural elements. Government initiatives also play a significant role in promoting this trend. Various schemes incentivize developers to come up with sustainable projects. Subsidies for green building certifications like GRIHA and LEED, along with tax benefits for sustainable construction, encourage the development of environmentally friendly projects.
The Smart Cities Mission further promotes urban projects that focus on health, well-being, and sustainability, aligning with broader national and state policies. These initiatives align with promoting sustainable development, enhancing community health, and preserving the environment, ensuring that projects contribute to making the planet a healthier and happier place. As a result, green-scape-surrounded low-rise living represents a harmonious blend of human habitation and nature, paving the way for a balanced and fulfilling lifestyle.
The preference for such development is more than a passing trend; it reflects a fundamental change in how people view their living environments. With its promise of a healthier lifestyle, better privacy, and high investment returns, this trend is shaping the future of the residential real estate market in Gurugram.
Source : Construction Week Online
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