Among all the home launches made in Gurugram this year from January to June, 90% were in the category of affordable housing. In the first half of the year 2017, (HI 2017), most of the homes launched fell into the price bracket of Rs.20-25 Lakh.
The new launches witnessed a huge fall in Gurugram as only 3000 units were launched in HI 2017. 90% of these launches were in sectors near New Gurgaon and Dwarka Expressway areas.
As per the experts, the luxury housing segment will remain at a low even in the remaining months of the year while affordable housing segments will be leading the market.
The process of getting registered under RERA will be initiated in Third Quarter of 2017 and the developers will take a time for about 6 months to get used to the new law and regulation. This is the reason luxury housing segment will be witnessing a fall.
The sales are also expected to increase once the festive season starts specifically in the ready-to-move-in projects as the developers will take advantage of the situation by providing lucrative payment plans and discounts.
The homebuyers are suggested to accurately explore the housing units with developers as they are interested in selling their units with attractive payment plans.
The housing unit prices are likely to remain stable in the areas of Sohna Road, DLF Phase I, II, III, IV and V and Golf Course Road.
But on the other hand, new markets of Golf Course Extension Road and Dwarka Expressway will experience a price correction of 5-7% in the remaining half of the year because of the large stock available in the secondary market.