Growing trend of fully-furnished serviced studio apartments
Studio and serviced apartments are emerging as good investment options across the prime cities in India. Several developers have been choosing this new trend of development but still, the existing supply is not matching the prevailing demand for such properties.
Studio apartments are globally hit
Studio apartments are emerging as investors’ favourite not only in India, but also in many developed countries such as Canada, Australia, Singapore, etc. Businessmen and owners of small enterprises such as architects, designers, consultants, chartered accountants, etc prefer to stay close to their workplace. Also, most of the residents staying in prime cities include a husband-wife or young professionals or single workers, who prefer to live in studio apartments as they are more cost-effective.
Serviced studio apartments on rise
Fully furnished studio cum service apartments are witnessing significant demand across the nation. Multi-use studio apartments are also emerging well in the recent trend.
Many top real estate developers including DLF, Supertech, Amrapali, JP Group, Eldeco, Paras, etc have come up with studio apartments in Delhi-NCR. Supertech’s North Eye in Sector 74, Eco City in Noida, Edenia launched by Wave City Center in Noida, JP Group’s Buddh Circuit Studios apartments at Jaypee Greens Sports City, Paras Tierea in Sector 137 on Noida Expressway, Eldeco- The Studio in Sector 93A Noida, Paras Square on Golf Course Extension Road, DLF’s My Pad in Lucknow, etc are some of the projects offering studio apartments.
At present, there are many projects offering studio apartments, studio cum serviced apartments with various options and convenient payment plans. Some developers are offering air conditioned studios along with commercial licences as well, so that the buyers can use it for office purpose too.
Driving factors
The studio cum service apartments yield higher appreciations year on year while the rental income is also rising significantly. Both investors as well as end-users are largely interested in buying studio apartments in prime cities. Generally, business class people comprise most of the demand the serviced studio apartments since they can use it as an office or a second home.
Growing demand in Delhi-NCR
Delhi-NCR has been witnessing rising demand for furnished studio cum service apartments owing to growing industry trends. Many IT parks, institutions, industries, BPOs, KPOs, etc have come up on a large scale. Also the infrastructure projects such as Yamuna Expressway, F1 International Circuit, FNG Corridor, adventure park, proposed night safari and cricket stadium, etc have added to the demand.
Cost-effective investment
Affordability factor is another important driving factor for such units as even mid-income group buyers can manage to afford one. Since the amenities offered with studio units are usually lesser than the regular bigger residential units, the additional charges are also low. Investors opine that a studio apartment is a cost-effective and wise short-term investment destination, since they yield good returns.
