Gurugram, also known as Gurgaon, is a rapidly growing city located in the northern Indian state of Haryana. The city has seen a surge in demand for 3BHK homes in recent years, especially among families and young professionals. In this blog, we will explore the reasons behind this trend and what it means for the real estate market in Gurugram.
The lockdown effect:
The Covid-19 pandemic has brought about a paradigm shift in the way people live and work. The nationwide lockdown imposed in India in 2020 had a significant impact on the real estate sector, especially the residential segment.
As people were confined to their homes during the lockdown, many realized the importance of having larger living spaces that can accommodate their changing needs. With work from home becoming the new norm, people needed a separate space to set up their home office, and a 3BHK apartment provided them with the necessary flexibility.
Growing population and urbanization:
Gurugram has seen a massive influx of people in the past decade, with the city’s population more than doubling from 876,824 in 2001 to 1,514,085 in 2011. The city is home to many corporate offices, IT parks, and multinational companies, which attract professionals from across India and abroad. As more people move to the city for work, the demand for housing has gone up, particularly for 3BHK homes that can accommodate families.
Rising income levels:
Gurugram is known for its high-income population, with many professionals earning salaries well above the national average. The city’s strong economic growth and job opportunities have led to a rise in income levels, enabling more people to afford larger and more spacious homes. A 3BHK home is seen as a symbol of status and comfort in the city, making it a popular choice for those looking for a premium lifestyle.
Preference for modern amenities:
Gurugram’s residents have come to expect modern amenities and facilities in their homes, such as 24-hour power backup, high-speed internet connectivity, and security features. A 3BHK home is more likely to come equipped with such amenities, making it a preferred choice for those who want a comfortable and convenient living experience.
Growth of the nuclear family:
As India becomes more urbanized, the traditional joint family system is giving way to the nuclear family, with more people opting to live with their immediate family rather than with extended relatives. A 3BHK home is better suited for a nuclear family, providing enough space for parents and children to have their privacy while still being under the same roof.
The rising demand for 3BHK homes in Gurugram can be attributed to a combination of factors as listed above. Real estate developers in the city have recognized this trend and are building more 3BHK homes to meet the demand. With the city’s strong economic growth and growing job opportunities, it is likely that the demand for 3BHK homes will continue to rise in the coming years.
