Young buyers' in cities preferring studio apartments studio apartments| real estate developers| real estate| Mumbai| Delhi-NCR
(While margins remain low…)
MUMBAI/NEW DELHI: After two years of looking Mumbai-based working couple decided that the only way they could acquire a home without compromising on lifestyle was to sacrifice square feet. Also, they preferred to pay equated monthly instalments (EMIs) and build an asset for themselves rather than shell out rent. For many young buyers thinking along the same lines, the studio apartment has become the dwelling of choice.
Income levels and steep prices would necessarily have pushed the couple mentioned above to the distant suburbs if they wanted the standard 2BHK (two-bedroom, hall, kitchen) apartment.
"This will lead to each of us wasting nearly three hours every day for commuting to and from office," said the husband, who'
Studio apartments are also preferred by single working individuals and newly married couples who need to set up a home immediately and sell them off when they no longer need them. The demand for such units on both primary and resale market is consistently high
Studio apartments is the logical choice for those who cannot or do not want to buy larger units. These kind of apartments are popular with mid-management level buyers who tend to stay in certain city for extended period of time rather than paying for service apartments or hotel rooms.
There is an inflexible and steady demand for studio apartments, both in metros and tier 2 cities. Studio apartments are the most cost effective residential option for people who prefer to own a house rather than rent. Another reason for the high demand for such units is the ease to rent out or sold at a profit on the secondary market. Moreover, these kind of apartments do not require maintenance cost and make for hassle free purchases as well as resale.
Studio apartments basically comprise of single large room that include the bedroom, living and dining areas, with small kitchen and bathroom. Studio apartments are preferred largely by bachelors and small families
The demand for studio apartments is increasing. Software professionals and executives who have generally spent years stationed in a metro and find that they prefer to pay EMIs on an affordable, maintenance-friendly living unit rather than paying high rent for flats and service apartments.