Tag: Affordable Housing In NCR Delhi
Prashant Thakur, Head – Research, ANAROCK Property Consultants
Nestled in the foothills of Aravalli – one of the oldest range of folded mountains in India – Sohna was for long a major tourist attraction due to its lakes, hot springs, temples and many places of historical importance.
Located in the southern part of Gurugram, Sohna is also popularly known as ‘South Gurugram’. In the last few decades, Gurugram’s unprecedented economic growth has led to accelerated urbanization and rapid growth in migrant population flocking the city for employment.
Over time, the fast-paced growth in key areas such as MG Road, Udyog Vihar and Cyber City has created a ripple effect and pushed developments towards the western and southern parts of the city. This led to the emergence of new areas such as Golf Course Road, Golf Course Extension Road, Southern Peripheral Road (SPR) and Sohna Road – leading right up to Sohna town.
With proximity to various business centres and industrial clusters, good overall accessibility, affordable prices and planned infrastructure upgrades, Sohna is evolving as a key real estate destination for the working population of Gurugaram and surrounding regions.
Santhosh Kumar, Vice Chairman – ANAROCK Property Consultants
Exponential urbanization and tremendous employment opportunities have made NCR one of the fastest-growing regions in the country.
It is the largest urban agglomeration in India, with more than 28 million urban residents (around 7.5% of overall country’s urban population).
The accelerated urbanization and rampant migration of working population from different states have created a tremendous need for affordable housing in NCR – and the requirement keeps growing.
A recent ANAROCK report shows that NCR comes out on top in terms of the number of units added in the affordable housing segment (priced < INR 40 lakh) during the last two years, and accounted for around 26 to 30% of the overall affordable housing segment’s supply across the top Indian cities.
The region’s share of new launches in the affordable segment has grown from a mere 21% in 2012 to 71% in 2017 (up to Q3).
While the entire region possesses the opportunity to shine in this segment, ANAROCK’s report has identified some pockets which qualify as the key destinations for affordable housing projects in NCR.