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Home buing is a complex issue


Home is a basic need of every family. There are two options, either to live in a rented house or buy a new one. Those who have it or inherited, they are fortunate. One may have it or inherited, but house is immovable, whereas owner may be required to move out in search of jobs or opportunities, that may necessitate him to find out new shelter at new place. Now, there is a trend to settle where one has a job or profession. Earlier it was not like this. People used to move out from their origin just for earning and returned once their job or profession was over, so they preferred to stay in rented premises. But, now this scenario is changed. Scale of migration is also changed and bulk of rural population is migrating. Urbanization is on swing due to upbeat of economic growth and job creations in urban areas due to huge investments coming in such areas. Such urban centers are under extreme pressure to improve their infrastructures, such as power, road-rail transportation, housing, educational institutions, health services, law & order situation etc. to attract investments that in fact bring in growth and development of the area concerned. It is the investment destination that determines the growth and job opportunities and big centers are the example of this sort.

New Delhi, being capital of nation, has been in focus for political reasons and in last few decades it witnessed tremendous pressure from within and abroad for host of reasons that resulted in expansion of geographical area of national Capital. Now, New Capital Region is held as capital territory. We find, Gurugram, Noida, Greater Noida, Faridabad, Ghaziabad etc. becoming new destinations of NCR. The expansion and development in these areas are in full swing. Real Estate, in view of demand of dwelling houses, has assumed the status of industry, but in absence of regulatory frame work, a lot of troubles brew in and home buyers have been put to tremendous agonies and harassment, as the builders indulged in diversion of fund in a big way that hampered house building processes. In the given situations, the government has come out with a statute called Real Estate Regulation & Development Act, 2016 and it is hoped, the RERA would take care of buyers’ interest and control over the foul play of developers/builders. It is expected that the Real Estate sector would emerge as a powerful tool to boost housing sector on sound footing. Though, this law does not made any provision to resolve projects, which are delayed or held up for land acquisition disputes, master plan, sanctions from authorities, diversion of funds etc. and actions against developers/builders are not going to resolve it either. The government and agencies should make a safe passage that may bail out buyers entangled in such projects.

Gurugram is a prominent part of NCR. Its’ close proximity to New Delhi has proved to be a boon. Airport situates just between New Delhi & Gurugram. It’s on NH8, linked with Metro. In last about 3 decades it developed as an important place for trade & industries. World class health facilities, educational institutions and sustainable infrastructures made Gurugram an international work destination. To accommodate and facilitate trade & industries Gurugram has developed necessary commercial space and for living dwelling units. It’s expanding fast and it is believed that in coming years it shall further come up befittingly in all sphere of activities.

Gurugram has been moving very fast in Real Estate sector to cope with growing demands of dwelling homes. High rise, bunglows, villas, builders floors are in organized sector, while traditional housing segment is also working to cater the need, though they lack necessary support of infrastructure and services.

one finds abundant scope of future development and thinks that he and his next generation shall not need further migration. It is right proposition and things are as such, where prospect is not only bright, but fathomless. People see into their art of scheme to have their own house, as the same are available in varying shape and size and at reasonable cost in comparison. Since Gururgram is a developed city and have untapped growth potentials that gives guarantee to growing future as well. All indicators suggest, Gurugram shall remain a comfort zone for human civilization, as such, value accretion of property has to beaccelerating, making one’s investment not only safe, but lucrative as well.

Now, let us analyze different options as of high rise and builders’ floor. We do not discuss about meant for very exclusive set of people and not for a middle class, where everything is subject of budget. This class is very large in number and taking in view this size dwelling units, whether high rise or builders’ floors, are being built. Hence, we find meaningful to discuss about high rise & builders’ floors.