DELHI: Guragon has always been an abode to large and spacious residences that offer amenities that are at par with the best in the world. Home buyers in Gurgaon display a keen preference for larger homes which is depicted by the huge demand for 3BHK units vis-à-vis 1 and 2BHK homes.
As MagicBricks.com data projects Gurgaon has witnessed a huge demand for 3BHK units in the last several months with demand surging from 43 per cent in the Jul-Sep 2012 quarter to 51 per cent during the Feb-Apr 2013 quarter.
Manoj Kumar, VP Marketing, M2K Developers explains, “Today, maximum demand for housing in Guragon is coming from those buyers who have the potential to buy big and have larger disposable incomes. Moreover, majority of the buyers indulge in home purchase just once in their lifetime and thus prefer to go for a larger home that would easily accommodate the entire family.”
Balram Singh of Development Forum India, a city based realty firm gives another plausible explanation. He says, “As nearly 90 per cent of the home buyers take a home loan and the difference between a 2 and 3BHK apartment in Gurgaon is not much, they do not mind paying a 10-20 per cent extra EMI for a bigger home.”
Supply in the city is also aligned as per the demand. Statistics for supply available with MagicBricks.com indicate that developers have been largely inclined towards building larger homes. More than 50 per cent availability has been witnessed for these units in the market with the supply graph showing a positive curve for several continuous months. For instance, supply has inched up from 53 per cent in the Jul-Sep 2013 quarter to 55 per cent in the Feb-Apr 2013 quarter, as per MagicBricks.com.
“Density norms in Gurgaon are such (600 per acre) that it is more feasible for developers to construct larger homes. Add to that the increasing demand for larger and luxurious homes n Guragon, developers are not left with much choice but to build large,” says Kumar.
Nearly all developers present in Guragon today are offering 3BHK units in their projects within a wide range of Rs 50 lakh to Rs 5 crore and above. Some of these renowned developers include DLF Ltd, ERALandmarks Pvt Ltd, Ansal API, CHD Developers, Vatika Group, SS Group, M3M Developers, Emaar MGF and Universal Group among several others.