Business News | Gated Townships See Increased Demand Across Diverse Locations
Get latest articles and stories on Business at LatestLY. The pandemic-infused trends have shifted the focus of homebuyers on comfort, wellness, and luxury.
Delhi NCR [India], July 29 (ANI/NewsVoir): The pandemic-infused trends have shifted the focus of homebuyers on comfort, wellness, and luxury.
There has been a considerable change in the lifestyle patterns of buyers.
They are not willing to compromise on any aspects of opulent living and are increasingly stepping ahead to invest in residential spaces in gated townships. Demand for gated communities/townships is on the rise as imminent buyers look for common facilities for a healthy lifestyle, with a healthy ecosystem.
Additionally, the desire for large open spaces, greenery, security, modern amenities, and high returns on investments have turned the tide in favour of gated townships which are experiencing an elevated demand across various locations.
The trend is gaining traction in Delhi-NCR which already has attained the reputation of the country's leading realty hotbed. The demand for safe and secured gated communities here is on a meteoric rise and excellent connectivity, vibrant infrastructure, job opportunities, and others are acting as catalysts behind it.
"In metro cities, demand for strategically located condominiums and gated communities is on a constant rise, largely fuelled by factors like the necessity to live closer to the workplace, and a desire for an all-encompassed lifestyle and amenities within one's complex. The focus on health, safety and wellness measures implies that well-managed gated and self-sufficient condominiums have emerged as sought-after options for home buyers," says DLF spokesperson.
Owing to the rising demand, the number of gated communities in the country is expected to grow to 225,000 from 130,000 over the next 10 years, predicts consulting firm Redseer. According to it, premium and luxury segments in gated communities have seen higher growth recently and it is expected that their contribution will go up to 20 per cent in the next five years.
"Gated communities ensuring security, a greener environment, a sense of like-minded community, and the convenience of having everything under a roof continue to gain momentum from the home-buyers. The luxe amenities within an enclosed setting intensify the demand for this segment and it will continue to grow stronger in the coming quarters," says Santosh Agarwal, CFO and Executive Director, Alpha Corp.
The homebuyers are searching for all-inclusive integrated townships for better access to business hubs and retail outlets. Also, demand for gated communities is rising as potential buyers are searching for large open spaces, modern amenities, and high-tech facilities in tony neighborhoods.
"Consequently, the trend of purchasing luxurious apartments in high-rise towers in gated communities that are well-connected to central locations has become quite popular today. These communities offer ample living space with study rooms for students, workspaces for professionals, fitness areas for health enthusiasts, and entertainment zones designed to fit the luxurious lifestyles of the residents," says Vinay Wadhwa, General Manager - Sales, Vatika Limited
Investing in gated communities gives a good return when the property is sold. It is expected that the number of households in gated communities will increase by 32 million by 2031.
"One of the reasons for the high demand in this segment is the fact that home-buyers have realized the importance of a cocooned lifestyle providing more freedom and living in a well-planned community, especially with working from home that became necessity rather than choice over the past few years. Considering the added feature of safety and security, gated communities are gaining more traction from the buyers as there they enjoy a comparatively much better quality of life," says Ashok Singh Jaunapuria, MD & CEO, SS Group
The fence-sitters too have realized the value of owning a home and they are actively making decisions, causing demand surges. The real estate developers are constantly launching new projects to tap this rising demand and gain a competitive edge in the promising market.
Mukul Bansal, Director, Motia Group says, "Today, gated communities are considered the epitome of luxury living. The soaring demand for gated communities in metros as well as Tier II cities is prompting esteemed real estate developers to build high-end gated communities that align with today's market trends."
Also, the HNIs, NRIs, corporate professionals, business leaders, startup founders, and millennials are constantly planning to invest in real estate assets and gated communities have emerged as their top choice.
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