Independent floors are seeing a surge in demand nationwide, with Haryana being a notable hotspot.
Gurugram, which is also known as Millennium City, has become a favourite among homebuyers with increasingly large number of buyers looking for low-rise independent floors priced between Rs 1.5 crore and Rs 5 crore, as highlighted recently by property consultant Anarock.
According to a JLL report, 74 percent of new housing units in Gurugram are independent floors. This trend towards more spacious homes has been significantly influenced by the pandemic, driving buyers to seek out privacy and ample space.
A significant number of buyers from Delhi are being drawn to the customizable living spaces that independent floors offer. These units generally provide faster possession times compared to high-rise apartments and are often situated within gated communities that offer a variety of modern amenities. Developers such as DLF, Signature Global, Smartworld Developers, and M3M are experiencing strong sales, with some projects selling out quickly. The amalgamation of luxury, privacy, and community living is proving to be highly appealing to homebuyers.
DLF, India’s largest real estate company by market capitalization, has introduced a variety of independent floors across Gurgaon, including areas like DLF Phase 1-4, New Gurgaon, and DLF5. In response to the growing demand for luxury independent floors, DLF launched the super luxury project, The Grove, at DLF5. Last September, the company unveiled an exclusive collection of 92 independent floors, strategically positioned on corner plots in DLF Phase 1-4. These floors, ranging in size from 2,400 to 3,100 square feet, were sold at prices between Rs 4 crore and Rs 5.5 crore each.
Aakash Ohri, Joint Managing Director & Chief Business Officer at DLF, shared his thoughts on the rising popularity of independent floors.
He stated, “Investing in independent floors is highly advantageous for homebuyers. They offer a lower initial investment compared to ready-to-move-in properties or independent villas/grounds and promise quicker delivery than condominiums.
“This option is ideal for those who value privacy and individuality over communal living, making it perfect for those who prefer to avoid excessive community influence. Additionally, independent floors provide an excellent opportunity for extended families to live near each other while maintaining their personal spaces, allowing multiple generations to reside independently without sacrificing their closeness.”
Discussing the steady demand for independent floors, Ohri remarked, “There’s a distinct group of customers who favor these types of homes. Most of our inventory has already been sold, with only about 30 units remaining. DLF independent floors have seen a price increase of over 20%. We have demand from both upcountry buyers and residents of Delhi. Many people who have lived in independent floors previously are now moving here to elevate their lifestyle.”
According to industry experts, the demand for independent floors is driven by several key factors such as larger living spaces, quick delivery, and customization options for buyers. Smartworld Developers has responded to this demand by launching their first projects featuring low-rise independent floors, Smartworld Orchard and Smartworld GEMS, situated in prime locations in Gurugram.
Vivek Singhal, CEO of Smartworld Developers, highlighted the increasing demand for independent floors in Gurugram. He noted that these projects are becoming popular among homebuyers due to their smart investment potential, low initial costs, quick returns, and shorter turnaround times. Situated in gated communities with premium amenities, these independent floor projects offer an excellent work-life balance. They allow families to live together while maintaining their privacy, combining traditional living with modern conveniences. The rise in land prices has further enhanced the appeal of independent floors, offering ample personal space.
Shashank Vashishtha, Executive Director of Exp Realty India, emphasized that the appeal of independent floors lies in their shorter project turnaround times, privacy, and larger spaces. This trend is particularly noticeable among high-net-worth individuals (HNIs) who seek robust infrastructure and prime city locations that still offer a sense of seclusion and luxury. In today’s real estate market, homebuyers greatly appreciate the ability to customize their living spaces, allowing them to express their individuality and form a strong emotional connection with their homes and community.
“Additionally, these developments offer a sense of ownership with quicker completion times and added features such as extra basement and terrace spaces for recreational activities, meeting the convenience needs of homebuyers.
Major real estate markets, such as NCR in India, often act as microcosms for significant future developments. The rapid adoption of independent floors in these areas suggests this trend will gradually spread to other property markets across the country. Realtors are increasingly finding it more profitable to invest in low-density societies, particularly in Gurugram.
Strong consumer demand has encouraged developers to allocate their funds towards these projects. Additionally, the lower construction costs and faster sales rates have made the independent floor housing format an attractive investment option.