Gurugram’s Affordable Housing Surges Ahead, Reviving Middle-Class Homeownership Dreams
Gurugram’s real estate market is witnessing a notable shift as the affordable housing segment gains renewed momentum after years of being overshadowed by luxury projects. Once considered out of reach for most middle-income families, the city is now presenting a more favourable landscape for budget-conscious homebuyers. This emerging trend stands in contrast to other Tier-1 cities in India, where affordable housing demand has been slowing.
According to the latest Real Estate Chartbook by Elara Securities, Gurugram is experiencing a sharp uptick in both quarterly and yearly sales in the affordable segment. The report highlights an impressive 191 percent quarter- on-quarter increase and an 88 percent year-on- year rise, confirming that demand is strong and sustained. These figures clearly indicate that homebuyers are actively seeking affordable options, and the segment continues to attract serious interest.
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However, despite accelerating demand, supply remains a critical challenge. The report notes a drastic decline in new launches within the affordable housing category, mainly because developers continue to prioritise premium and luxury projects. This has resulted in very limited inventory for middle-class buyers, creating a widening gap between what the market needs and what developers are delivering.
The inventory overhang further reinforces this imbalance, with the time required to clear unsold stock increasing by nine months on a yearly basis. This signals a shortage of fresh affordable inventory and demonstrates developers’ hesitation to engage in mass- market housing, even though demand remains significantly higher than supply.
Nevertheless, Gurugram’s performance stands out as a positive sign for middle-class homebuyers across the country. While rising construction costs and shrinking developer margins have challenged the affordability segment nationwide, Gurugram’s improving figures offer hope. If the momentum continues, the city may once again become a viable and attractive destination for middle- income families aspiring to purchase their own homes
