Times have changed when people usually bought or built homes after their retirement with the hard-earned money they saved throughout their service. This generation has a different mindset from the past generation, or we can say it is juxtaposed to the previous generation. Nowadays, even teenagers want to earn and wish to attain an independent lifestyle, which is not bad. As of today, the youth dominates the population in many countries, including India. The reality is that development in India is largely driven by a dynamic and young population, with sixty-five percent or more being under the age of thirty-five.
It would not be wrong to say that the real estate sector in Gurugram largely has credible buyers below this age group. This is a good indication and a sign of a prospering India. The youth aspire to have their own homes and settle down early with their families, preferring their own homes rather than rented ones. To facilitate this, banks provide home loans at reasonable interest rates, and the central and state governments also provide subsidies to promote people to buy homes and settle in a disciplined urban manner. By providing subsidies, the government’s message is loud and clear: people should not opt to buy plots in unplanned or unauthorized areas to avoid the wrath of the department and the fear of demolition.
Gurugram’s real estate sector has credible young allottees, and job opportunities in Gurugram are immense, with development reaching new levels every successive year. This is a sign of a prospering city, with real estate promoters striving to meet the housing demand and supply ratio. The young allottees have shown a preference for independent flats or floors, which is a considerable indication of their changing lifestyle mindset, seeking better safety and utmost privacy. This is why the concept of independent floors, flats, and plots has witnessed a huge response from young allottees in Gurugram’s real estate market in recent decades.
However, experts believe that there should be control over population growth, as India has surpassed China, and uncontrolled population growth can slow progress. Increasing numbers pose challenges to efforts to meet people’s needs such as nutrition, healthcare, water, sanitation, housing, education, and others. Let’s not forget that due to the challenges associated with the deadly Covid-19 pandemic, the planned 2021 census in India was delayed and is now scheduled for 2024.
The challenge currently posed by the growing young population in terms of their housing needs is wrapped in multiple complications. Not only does the government have to meet their housing needs, but the infrastructure also needs to be augmented, striking a balance between growing needs and the environment. The real estate promoters are expected to incorporate environmentally friendly concepts in their constructions to maintain a balance between development and the environment. Promoter Signature Global has gone the extra mile and adopted a zero waste discharge policy and a green building code concept.